Are Low Sales Of Steph Curry’s Latest Sneaker Hurting Under Armour?
Steph Curry is, without a doubt, one of the most popular players in the entire NBA right now. In fact, you could argue that he is the most popular player. Sure, plenty of people would still point to LeBron James or Curry’s own teammate Kevin Durant and call them the most popular players. But Curry has carved out a unique niche in the league and fans have responded accordingly. They see themselves in Curry and relate to his story, which has helped him soar in terms of popularity and, in turn, helped him to sell a lot of his Under Armour sneakers. Curry has almost single-handedly changed the perception of UA basketball sneakers and made it cool for kids to wear them.
So why then is his latest UA sneaker struggling to sell? According to Foot Locker, sales for the Curry 3 sneaker have been slow thus far this season, and it’s apparently taking a big toll on the UA brand as a whole. The company’s overall value has reportedly plummeted by about $600 million in recent weeks due in large part to the slow sales of the Curry 3. It’s a little bit unclear why people aren’t responding to the Curry 3 in the same way that they responded to the Curry 2 and Curry 2.5—it could very well have to do with the price point being increased to $140—but whatever the case, the Curry 3’s sales are a bit troubling to those who have followed Curry and the big impact he’s had on the sneaker world.
For what it’s worth, it doesn’t seem like anyone is panicking just yet over the Curry 3 sales. Foot Locker CEO Dick Johnson spoke with ESPN.com this week and said he’s still confident in UA’s ability to push basketball sneakers. “We’re optimistic that [Under Armour] are going to be able to continue to keep that [footwear business] with some momentum behind it,” he said, “and certainly expand their footwear offerings.” But it seems clear that some of the momentum has slowed, and it could have an effect on UA’s sales figures moving forward.
Does all of this mean that Curry can’t sell sneakers? No. Not at all. He’s the biggest athlete UA has on their roster right now, and his sneaker sales account for about 5 percent of UA’s overall annual business. But UA is going to have to continue to figure out ways to market Curry and his sneakers in order to keep sales strong.