Stephen Curry and Under Armour have officially parted ways, marking a significant departure from their decade-long partnership that once catapulted the basketball superstar into the sneaker world.
The news came as no surprise, given the brand's decision to pivot its focus away from high-profile athlete endorsements in favor of more premium products and a repositioning aimed at strengthening its core brand. With revenues still in decline, Under Armour CEO Kevin Plank acknowledged that "discipline and focus on the core UA brand" was crucial during this critical stage.
Curry, now free to explore his own sneaker deal, had already made his intentions clear by donning Nike Kobe shoes during a pre-game shootaround in San Antonio. The move served as a public statement, signaling his newfound status as a sneaker free agent.
The partnership between Curry and Under Armour began in 2013 but never quite lived up to expectations, particularly when it came to creating cultural cache and driving sales through resale value. As the brand's reliance on the Curry franchise continued to wane, Plank made the strategic decision to terminate the contract, citing a need for "product innovation and performance" that didn't align with the partnership.
With the Curry portfolio now estimated at around 2% of Under Armour's total revenue – down significantly from its peak – the brand is continuing to streamline its operations, including ending agreements with university athletic programs. Despite this, Curry will retain ownership of his eponymous business, which had previously been backed by the sportswear giant.
In a statement, Curry expressed gratitude for Under Armour's early support but acknowledged that sometimes "belief isn't enough" to create lasting impact. The parting of ways between the two was amicable, with Plank hailing it as an opportunity for both parties to focus on their respective strengths.
The news came as no surprise, given the brand's decision to pivot its focus away from high-profile athlete endorsements in favor of more premium products and a repositioning aimed at strengthening its core brand. With revenues still in decline, Under Armour CEO Kevin Plank acknowledged that "discipline and focus on the core UA brand" was crucial during this critical stage.
Curry, now free to explore his own sneaker deal, had already made his intentions clear by donning Nike Kobe shoes during a pre-game shootaround in San Antonio. The move served as a public statement, signaling his newfound status as a sneaker free agent.
The partnership between Curry and Under Armour began in 2013 but never quite lived up to expectations, particularly when it came to creating cultural cache and driving sales through resale value. As the brand's reliance on the Curry franchise continued to wane, Plank made the strategic decision to terminate the contract, citing a need for "product innovation and performance" that didn't align with the partnership.
With the Curry portfolio now estimated at around 2% of Under Armour's total revenue – down significantly from its peak – the brand is continuing to streamline its operations, including ending agreements with university athletic programs. Despite this, Curry will retain ownership of his eponymous business, which had previously been backed by the sportswear giant.
In a statement, Curry expressed gratitude for Under Armour's early support but acknowledged that sometimes "belief isn't enough" to create lasting impact. The parting of ways between the two was amicable, with Plank hailing it as an opportunity for both parties to focus on their respective strengths.