Now on his sixth year in the NBA, Stephen Curry is quickly becoming the new face of the league. At 27 years old, he is leading the Golden State Warriors to a 9-0 start, a feat not even the 1995-1996 Chicago Bulls NBA champion team of Michel Jordan and Scottie Pippen had accomplished. The Bulls then had a 5-0 start and finished their November assignments winning 12 games, losing 2 en route to a 72-10 win-loss season.
Averaging thru nine games with 32.4 points, 5.9 assists and 5.4 rebounds, Curry, though only standing three notches above six feet, dominates games, often in unbelievably ridiculous fashion. A bit small by NBA standards. But his hardcourt exploits are not our main story today but of a marketing blunder by a sports apparel company.
Golden State picked Curry at seventh during the 2009 NBA Draft and during his first four seasons, he wore Nike shoes. Two years ago, people from the Swoosh, maybe not yet true believers on his developing talent, offered a shoe deal worth a little over $2 million annually. Under Armour countered with a $4million-a-year which Nike did not match.
Nike had another chance early this year to match UA’s offer on the table and still they were not convinced. Twice they passed up on Curry, belittling his marketing value. It is somewhat unthinkable for the company to overlook Curry as they are always on the lookout for big-name endorsers. Obviously, they underestimated him.
Nike could have some reservations on giving Curry a deal as they already spent a fortune on Kevin Durant when they gave him last year a $350 million, 10-year shoe endorsement deal. UA also offered between $250 to $285 million, but for Durant, the choice was obvious. UA probably had saved so much from that botched Durant deal they decided to go full throttle on Curry, and truly and surely, their investment had started to pay off.
They launched last February their Stephen Curry line and their shoe sales went 41% higher, boosted by the Curry One basketball shoes in Warrior color ways and bright neon variations. They were quickly sold out then that only sizes 14 to 16 remained in stock. Just this October, the Curry Two was born and hit the global shelves. The second iteration was launched by Steph himself here in the country.
Notice the “Charged by Belief” and “Fall back” printed on some UA shirts? These slogans, defining Curry’s abilities, are trademarked by Under Armour already, which also includes phrases like “The Patron Saint of Underdogs”, “Baby faced Assassin”, “The League’s Most Unguardable Player” and “The Game’s new Creative Genius”.
He renewed his allegiance to Under Armour for a reported $8 to $10 million annual deal thru 2024. The contract also includes part ownership of the company. UA entered the shoe wars in 2006 and struggled in getting the market share. With Curry and the recent addition of boxing great Muhammad Ali and new golfing sensation Jordan Speith, UA aims to catch with their main competitor in the near future.
The Curry shoes are way cheaper than the high-end Durants, LeBrons and Kobes. This suits well with the teen to the late twenties market as the Currys are about P4,000 less than the premium Nike brands sold locally. The teens depend on allowances from the parents and the older ones are still struggling with new jobs and their basic wages. Just like our time since really way back when going to Don Bosco at Punta Princesa from Liloan takes only 25 minutes including traffic, sneakers already are a fashion statement.
Under Armour is next Nike as the largest US-based sportswear company. For 2014, they posted revenue earnings of $3 billion. But it is still very minimal compared to Nike’s $28 billion income for 2014 and they control global shoe sales with 97% of the market. Today, less than 25 NBA players wear UAs, compared to the 300-plus Nike users. Under Armour hopes to change the league’s foot landscape with Stephen Curry locked with them until 2024.
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Reports say that more than 1,000 passengers at the Mactan Cebu International Airport had bullets in their possession. These were confiscated and the passengers allowed to board their flights. Why can’t NAIA do the same? For several “thousand” reasons?
NAIA – tanim BALA. AFP – walang BALA. BJMP – maraming BALA. PNOY – hindi nag aBALA. MAR – BAhaLA kayo sa buhay nyo.