NBA’s two-time most valuable player, Stephen Curry, is definitely a hardcore when it comes to his game. However, he has no enough power to boost the sales of his athletic shoes. Curry’s high-end shoes did not hit the sports market pretty well, which leads to poor sales for Under Armour.
Curry’s kicks seem to be selling slowly in the market. According to USA Today, Michael Binetti a UBS analyst thinks that there have been a moderate interest from the buying market in the Golden State Warriors star player shoe lineup. Binetti believes that there is still room for growth and improvement for the collection. What likely caused the problem is that the company had high expectations for the outcome of Curry’s shoe lineup.
Aside from that, Under Armour’s major competitor, Nike, was also able to come up with its own lineup with the same price range. It is just safe to say that when it comes to athletic shoe sales, Curry is no like Michael Jordan.
Under Armour’s stock shared dropped 23.4% to close at $19.22. Kevin Plank, Under Armour’s CEO, said that the dropped was due to challenges and disruptions that have been happening in the North America retail business. Aside from that the company also replaced its Chief Financial Officer (CFO) and that also was a contributing factor.
But when it comes to fashion, Curry’s shoe lineup is not the only problem of Under Armour as reported by Bloomberg. The brand needs to become more fashionable in an athletic approach in order to continuously attract more customers.
“The consumer wants it all. They want product that looks great, that wears great, that you can wear at night with a pair of jeans, but that also does perform for them,” says Plank.
Meanwhile, in other Stephen Curry news, the MVP reminisce the start of his basketball career as he paid a visit to Davidson College, says Jobs & Hire.