Stephen Curry and his 400 three-pointers may have already secured the Golden State Warriors a place in the record books this year, but is his line of Under Armour sneakers set to change an industry dominated by Nike and Jordan Brand?
Well, according to The Washington Post and Under Armour’s reported quarterly earnings, the athletic apparel brand’s revenue climbed to $264 million, up 64 percent from the previous year, with the majority of that down to the Curry line. Another report found that in the past six months, online sales of the shoe have been up 170 percent. The line has also become one of the best-selling basketball sneakers on the market in the last few weeks.
However, that same report also compared digital sales across the industry, including those of the shoe’s biggest rival – the Air Jordan. It was found that Curry’s sneakers accounted for just 4.2 percent of total sales, compared to 9.7 percent for LeBron James’s, 13.6 percent for Kobe Bryant’s, and a whopping 72.4 percent for the Jordan line.
Of course, it’s to be expected that the Air Jordan would dominate given the shoe’s many variations and the fact that it has been around for a lot longer. Under Armour is also quite new to the sneaker game, and because of that it hasn’t as yet mustered the same kind of loyal customer base that Nike enjoys. Six straight years of posting quarterly sales growth of more than 20 percent, however, may mean that Under Armour can tighten that gap. As Jaimee Minney told The Washington Post, the brand has at least “banked on the right star” in Stephen Curry.
Read the full piece over at The Washington Post.
Check out the Curry 2.5 Under Armour is dropping next month.
- Source: The Washington Post