Now it’s cheaper to walk a mile in Curry’s shoes
Stephen Curry’s signature basketball shoe has been the target of plenty of mockery. Thursday morning, on the company’s earnings call, Under Armour CEO Kevin Plank admitted that he wasn’t pleased with the reception to the Curry 3.
“As we launched the Curry 3 late last year, our expectations continued to run high,” Plank said. “And while the 3 played very well on court for Stephen Curry and our athletes, a sluggish signature market ... led to softer-than-expected results.”
Eager to capitalize on Curry’s burgeoning popularity, Under Armour has raised the price of each of Curry’s signature shoes — from $120 for the Curry One to, ultimately, $140 for the Curry 3. In the wake of the tepid reception to the Curry 3, Under Amour has dropped its price to $99.99.
Part of the problem is that, because of Curry’s history of ankle injuries, the two-time reigning NBA MVP needs to wear a shoe with a higher profile to protect his ankle. Most consumers wear basketball shoes for fashion, and lower-profile shoes tend to be a better sell.
“Our success in basketball hasn’t been without its learning,” Plank said.
This comes at a time Curry remains a cultural phenomenon. In addition to boasting an expansive portfolio of endorsements, he has had the best-selling jersey in the U.S. for two straight years.