Under Armour and Stephen Curry have parted methods, ending over a decade-long partnership between the NBA star and the sportswear firm.
Curry, who signed with the model in 2013 after his Nike contract expired, created the “Curry Brand” inside Under Armour in 2020. The model will grow to be impartial of Under Armour following the cut up.
“Under Armour believed in me early in my career and gave me the space to build something much bigger and more impactful than a shoe,” Curry stated in a press release.
Under Armour will launch the Curry 13 – the ultimate Curry Brand and Under Armour shoe – in February as deliberate, with further colorways and attire collections accessible by means of October, the corporate stated.
Under Armour has been struggling to fire up demand amid fluctuating tariffs and weak shopper spending. It forecast dour annual gross sales and revenue final week.
“For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround. And for Stephen, it’s the right moment to let what we created evolve on his terms,” CEO Kevin Plank stated.
Founder Plank returned as CEO in April 2024 following two consecutive annual gross sales declines and has spearheaded an overhaul that has concerned protecting a decent leash on stock of some merchandise, pushing for fewer promotions and reducing jobs.
The firm stated on Thursday it had expanded its restructuring plans and intends to incur a further $95 million in fees that features the Curry cut up.
Under Armour doesn’t anticipate a major impression on its consolidated monetary outcomes or profitability because of the separation of the Curry Brand.
The firm estimates its world basketball income, together with the Curry Brand, shall be $100 million to $120 million in its fiscal 12 months 2026.
By Aishwarya Venugopal
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The sportswear model projected full-year income and revenue under analysts’ estimates attributable to declining demand, elevated tariff prices, and cautious shopper spending.