In 2013, NBA superstar Stephen Curry made an unexpected choice that would alter the course of his career: he signed with the relatively unknown Under Armour instead of the industry giant, Nike. At that time, Nike dominated the basketball sneaker market, leaving Under Armour as a minor player in the sports arena.
Under Armour's founder, Kevin Plank, sought to establish his brand as the go-to choice for athletes who might not fit the conventional mold. "We’re the underdog brand," Plank explained, targeting individuals who may not be the tallest or fastest. This resonated deeply with Curry, who, standing at 6 feet 2 inches, doesn't conform to the typical perception of an NBA player.
Curry’s decision to join Under Armour was pivotal in his professional life, aided significantly by his teammate Kent Bazemore. Plank aspired for Curry to become the brand’s first major ambassador, understanding that signing an athlete of Curry's caliber required a unique approach.
Frustrated with a lackluster pitch from Nike—complete with mispronunciations of his name and outdated materials—Curry saw a different vision with Under Armour. The brand offered him a lucrative deal, totaling $4 million annually, in contrast to Nike's $2.5 million offer, which they didn’t match.
Fast forward 12 years, and Curry has launched numerous signature shoes and apparel lines with Under Armour. In 2023, he signed a long-term extension, becoming the president of the newly established Curry Brand, which operates under the Under Armour umbrella.
As part of his new agreement, Curry received 8.8 million shares of Under Armour stock, roughly valued at $75 million at the time, alongside various performance incentives. While Curry has significantly benefited from his partnership with Under Armour, the company has encountered various challenges, including shifts in leadership and market competition. The stock price plummeted from a peak of $45.41 in 2016 to under $6 currently.
Some industry insiders suggest that if Curry had chosen to stick with Nike, his business might have vastly exceeded current levels. Nico Harrison, general manager of the Dallas Mavericks and a former Nike marketing director, commented that Curry's business prospects could have been "a monster" if he hadn’t departed from Nike.
Curry's partnership with Under Armour has profoundly influenced his view on business. For the first time, he took an equity stake in a company, granting him insight into the decision-making processes that drive brand value. This change in perspective reflected not only his professional growth but also his alignment with Under Armour's underdog ethos.
Curry's journey in the NBA was more about enjoying the game than meticulously plotting his future. This mindset has translated to his off-court ventures, where his goal is to "elevate the under," investing a portion of Curry Brand's revenues into underserved communities, particularly in Oakland, California.
Since his arrival in Oakland in 2009, Curry has established a strong connection with the community. Recently, during NBA All-Star Weekend, he and Under Armour celebrated their 20th court refurbishment at McClymonds High School, providing new basketball facilities. Under Armour claims that the Curry Brand has trained over 15,000 coaches and impacted more than 300,000 kids globally.
In addition to basketball, Curry has extended his influence into golf with his Underrated Golf Tour, creating opportunities for junior golfers of color. Sponsorship from Under Armour has fueled regional tournaments aimed at promoting diversity in the sport.
Curry’s commitment to trailblazing both on and off the court illustrates how leveraging his brand can create meaningful community impact. His partnership with Under Armour remains a testament to the power of believing in oneself and advocating for those who often feel overlooked.
Please share by clicking this button!
Visit our site and see all other available articles!