Under Armour are making waves in the basketball world. And weirdly enough, Stephen Curry is doing the same. Coincidence? It is but it has a chance to be very lucrative for both UA and Curry.
With Curry’s signature shoe and Under Armour continuing to create great performance basketball shoes. Under Armour is rising up the ranks. I mean nobody will topple Nike but that’s besides the point. UA are making the right moves and in doing so, they’ve leapfrogged Adidas.
But now UA plans to expand what they have. According to MarketWatch, they plan to build a $1 Billion basketball business all based on Stephen Curry.
“I’m as proud, I think, of the quality of people we have,” Plank said, speaking about how Curry carries himself off the court. “But from the Curry One [basketball shoe] to the Curry Two, we’ve been modifying and chasing that a little bit where we had pretty limited expectations of what we really wanted to do with that product to begin with… It’s going to help elevate what was about a $100 million basketball business. And you know our goal is building a billion-dollar-basketball brand.”
Under Armour said footwear revenue in the first quarter climbed 41% over a year ago to $161 million. It attributed the strong growth to the introduction of the Curry One signature basketball shoe, along with new offerings of the SpeedForm running shoe.
Under Armour’s basketball business would have to grow 30% a year for the next 10 years for it to reach $1 billion, he said, and that’s a tough challenge.
A tough challenge indeed. An extremely tough one. They would have to have a crazy surge in popularity. Now they’ll reach the billion mark. But not in 10 years. No matter how great Steph Curry is. They’ll need some other potential superstars to sign up. Can’t just have Steph on their roster.
