‘ Air Curry’ lands; Warrior’s brand may be like Mike’s

To better connect with young consumers and compete with Nike’s Jordan brand, Under Armour launched the Curry brand Monday with Warriors point guard Stephen Curry.

The brand will debut at CurryBrand. com this week with shoes and clothes for sports including golf. Under Armour said it plans to expand to categories like running and women’s. The brand’s basketball footwear will be available Dec. 11.

“We wanted to make sure we did this as close as possible to the NBA season finally launching ... and the fact that we’re launching in between Black Friday and the holidays we think is very opportune,” Under Armour CEO Patrik Frisk told CNBC. “This also gives Stephen something to really engage in. ... He’ll be actively involved in the development of the product, and we’re so excited to see one of our athletes being so involved in the product.”

Curry, 32, has been with Under Armour

since 2013. He has won two league MVP awards and three NBA titles since then and emerged as a cultural phenomenon. His jersey is consistently a top seller.

According to CNBC, Monday’s launch came as Under Armour struggles to compete for young consumers. Nike has been the top apparel brand among teens for a decade. Piper Sandler’s biannual survey put Under Armour No. 1 on a list of brands “no longer worn” by male teens.

On Piper Sandler’s fall “Taking Stock with Teens” report, Under Armour slid from ninth place to 11th in shoes. Nike remained No. 1.

It hasn’t helped that Under Armour apparel has been widely discounted in department stores. In the last quarter, Under Armour’s revenue in North America fell 5% to $ 963 million.

Part of the reason Under Armour has had a tough time is the growth of the Jordan brand, which brings in more than $ 3.5 billion annually. One of Under Armour’s goals with the Curry brand is to give kids, particularly those from lowincome households, more access to sports.

Beginning in Oakland, where Curry played his first 10 seasons before the Warriors moved to San Francisco, the Curry brand will work with Oakland schools to launch basketball at every middle school. The brand will also partner with the nonprofit Positive Coaching Alliance to give professional coaching to youth sports coaches.

“What we want to try to do is change the game for good, and that’s how Stephen is thinking about it,” Frisk told CNBC. “We truly believe that is an opportunity for us.

So, it goes beyond the actual sales of product. But, the sales of product are important because we’re going to take part of the sales and actually invest that back into this program.

“It’s a new way for us to think about how we financially can drive an initiative, and we think that’s also an exciting business model going forward.”

Under Armour market shares are down nearly 23% this year, while Nike has gained nearly 33% since January. In January, the New York Times reported that Curry almost left Under Armour a year and a half earlier before he ultimately opted to stay.

According to the Times, Curry decided to stick with the company after Under Armour brought on the executive who led the creation of the Jordan brand to run the Curry brand.

Curry also was promised much more involvement in shoe development. Before the launch of his brand, Curry made roughly $ 20 million a year from Under Armour — a little less than half of what he will earn this season from the Warriors.