Recently, the entire basketball community was in shock following Kyrie Irving’s request for a trade. He is basically leaving his first NBA team the Cleveland Cavaliers. Later on, he was seen joking alongside Stephen Curry of the Golden State Warriors. This brought speculations of Irving taking his talents to the Dub Nation.
Apparently, in a report from Fadeaway World, Stephen Curry and his brand under armour are facing a huge trouble. It has something to do with their sales growth, which is said to be plummeting. Well, here is everything about it in a nutshell.
The competition is real
According to the publication, Under Armour made a statement before that they were keen to keep the competition alive. This was basically a nod to the battle the company has with Nike, Adidas, and Air Jordan. While these three have shown great sales performance, Curry’s brand is, unfortunately, sitting at the bottom. This is a surprise considering the All-Star point guard’s rise to fame. It is also worth noting that the brand tried to acquire Kevin Durant, but they failed miserably.
In one way or another, Stephen Curry and Under Armour are struggling with their operations. Supposedly, Curry was to provide the company the boost it needed to stay on top. However, it went the other way around.
Curry’s contract was even nowhere near to what was expected from him. This reportedly gave the brand a huge issue in terms of representation and value. Investor Place reports that the company already lost 3 cents per share, a loss that accumulates to a value of $12.31 million.
The entire operation is a ‘mess’
Investor Place further notes that Under Armour has been struggling since 2015, the same year they acquired Stephen Curry.
Even the company’s online presence and traffic are spiraling down, indicating an, even more, market loss. In 2016, the company engineered a maneuvered called the split 2-for-1. It was meant to keep the current CEO named Kevin Plank. But unfortunately, this move contributed to the brand’s mess. In fact, some of the company’s investors have already started bailing out.
Under Armour reportedly expected a rise in sales after Stephen Curry’s victory in the recent NBA finals. However, this did not provide any significant change. Sure, people started buying the company’s products, but they were not enough. Experts suggest that it is time for the company to hire more superstars, as Curry is nothing close to the biggest NBA endorsers of today such as LeBron James, Kobe Bryant, and even Michael Jordan.
