The Next Jordan Brand? Under Armour Doubles Down On Steph Curry
In 2013, Under Armour Inc (NYSE: UA)(NYSE: UAA) was able to lure NBA superstar Stephen Curry away from contract negotiations with Nike Inc (NYSE: NKE). Curry went on to become a three-time NBA champion and is one of the faces of the company.This week, Under Armour doubled down on its partnership with Curry.What To Know: The apparel company is launching the Curry Brand with the Golden State Warriors star. The Curry Brand will launch with footwear, apparel and accessories across the basketball and golf categories.Expansion into running and women's products categories are planned for the future of the Curry Brand.Why It's Important: Nike has the Jordan Brand, which has annual revenue of $3.5 billion. Under Armour is now putting its emphasis on its first signature standalone brand extension. Curry is recognized as one of the top NBA players and his signature shoe line with Under Armour has been a huge success.Under Armour has Curry under contract until 2024, so the launch of the Curry Brand could play a big role in keeping him with the company."We're not trying to take on Jordan here, that's ridiculous," Under Armour CEO Patrik Frisk said. The CEO said Under Armour is only 25 years...
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