Stephen Curry is trying to be to Under Armour what Michael Jordan was to Nike. Although his new shoes have gotten some negative reception on social media, the numbers are indicating that the rise of Curry as an ambassador for basketball is going to put Under Armour on the map in terms of basketball shoes.
The company is a relatively new addition to the basketball shoe market. They began producing basketball shoes in 2008, and have found it difficult to establish themselves in a sphere that has been largely dominated by Nike and Adidas for the better part of 3 decades.
Omari Sankofa has a great piece on Sports Illustrated about Curry’s impact on legitimizing Under Armour in the world of basketball shoes.
NPD Sports Industry Analyst Matt Powell has even gone as far to imply that by 2017, Curry could be outselling LeBron James’ shoe.
It sounds like wishful thinking at first, especially given the negative press that Curry’s new shoes have gotten, mainly via social media.
The trophies keep adding up.
Congrats, @StephenCurry30. The #ESPYS 2016 Best Record-Breaking Performance. #TeamUA pic.twitter.com/7am2LzFMhj
— Under Armour (@UnderArmour) July 14, 2016
The counter argument brought up by analysts and company officials is that Curry’s shoes are selling extremely well with children, who aren’t as loud of a presence on social media as those aged 20-35.
Twitter isn’t always reflective of larger consumer trends or practices, and the numbers show that there’s not enough supply of Curry’s shoes to meet demand.
According to Business Insider, Curry is estimated to be worth about $14 billion to Under Armour, and that Under Armour is growing at a faster pace than both Nike and Adidas largely due to Curry’s presence.
Of course, there’s more room to grow if you’re starting at a lower level to begin with, but with some estimates saying that Under Armour can cement themselves as the third largest sportswear brand by 2030, their rise is still noteworthy in a competitive field.
Curry really has a unique opportunity to capture an emerging demographic of children. Nike and Adidas may already have a strong grasp of those who grew up in the 80s, 90s, and even early 2000s, but for new customers entering the basketball shoe environment, they don’t yet have the emotional connection to Nike and Adidas that would make them less likely to latch onto an emerging presence in the field.
Granted, it’s not just the player’s skills that become the marketable commodity, but also the design of the shoes. Unfortunately, the all-white “Chefs” looked pretty bland compared to other shoes out on the market. No matter how great Curry is as a player, nobody wants to wear a shoe that isn’t aesthetically appealing.
Another important aspect that makes Curry different than other stars who’ve been marketed by these shoe companies is that Curry is more relatable as a player. While guys like Michael Jordan and Kobe Bryant based their skills largely around freakish athleticism and aerial acrobatics, Curry bases his game around shooting.
Having said that, there’s more to Curry’s game than just shooting. He has fantastic ball handling ability, blazing quickness, and impeccable court vision, but the most distinct weapon in his repertoire is his shooting. That’s a skill that theoretically any fan can become proficient at. Dunking is less accessible. If you’re not super tall or born with an incredible vertical leap, no amount of practicing can make you dunk anywhere near as impressively as Jordan. 3-point shooting is a more malleable skill.
Fans also tend to feel more connected to those they personally watched play. Kids born after 2000 don’t remember watching Jordan on the court, so there’s always going to be less of an emotional bond. It doesn’t have anything to do with Jordan’s mystique fading, but instead just a new demographic talking over the consumer base of an industry.
Generally speaking, 20 year olds are going to buy more basketball shoes than 50 year olds. This is where Nike should be slightly worried, because as Jordan disciples get older, they’re going to control less and less of the shoe market.
Nike doesn’t have to fear losing its grip on the industry, though, because they continue to sign some of the brightest stars in the league. They’ll always be relevant as long as they continue designing cool shoes and working with elite players in the league.
Under Armour should be very encouraged, though. There’s a lot of parallels between their connection with Curry and the one that Nike had with Jordan circa 1985. Nike wasn’t a giant in the industry when Jordan came aboard, and as he grew into a global icon, so did the company.
Under Armour is going to rise as high as Curry rises as a player, if Jordan set any comparable precedent 3 decades ago.
While it seems hyperbolic at this stage to even suggest that Curry can become the pop culture phenomenon that Jordan was, if jersey sales are any indication of popularity, he is the most popular player in the league today.
He’s a nice guy, relatable as far as professional athletes go, and a fantastic player. Under Armour couldn’t have picked a better player for them to try to make a dent in the basketball shoe industry with.