Under Armour is breaking into the athletic shoe market in a big way. Stephen Curry, who is this year’s NBA MVP, has agreed to be its chief basketball endorser. The Curry One shoe is highly anticipated and early returns on shoe sales have been very high.
To this point, Under Armour has become a house hold name in locker rooms for undergarments that manage sweat by providing superior breathable material. Now, Under Armour is leveraging its brand equity to launch a basketball shoe and place itself in the middle of very fierce competition, specifically with established brands such as Adidas, Reebok and Nike. The athletic shoe company is dominated by Nike and its subsidiary brand Air Jordan. Together, the two brands own 90% of the market.
Adam Peake, executive vice president of global marketing at Under Armour sees the introduction into the shoe market as part of an overall goal of becoming part of the basketball culture.
Do you think this is the right move for this brand? What can Under Armour do to gain market share from Nike with the launch of the Curry One?
Posted By: Alisha Ramji