Steph Curry, Under Armour Look To Cut Into Nike's Shoe And Apparel Dominance

Under Armour (UAA) on Monday announced a new deal with Golden State Warriors superstar Stephen Curry that will directly compete with Nike’s Jordan brand.

Curry Brand, which launches Tuesday, is focused on reaching a younger consumer demographic, according to CNBC. The brand will have golf and basketball apparel for both men and women. Performance basketball shoes will be available on Dec. 11.

“We wanted to make sure we did this as close as possible to the NBA season finally launching ... and the fact that we’re launching in between Black Friday and the holidays we think is very opportune,” said Under Armour CEO Patrik Frisk.

Curry, who joined Under Armour in 2013, will be involved in the development of the Curry Brand products. The 32-year-old point guard has long been active in non-basketball activities and is an avid golfer. Curry in 2017 formed SC30, which manages his investments, brand partnerships and philanthropy.

Some of Curry Brand's yearly revenue will be invested back into low-income, under-resourced communities. The goal is to provide children with a safe place to play sports and to create programs for young athletes, according to Under Armour's website.

Baltimore-based Under Armour, which was founded in 1996, has faced financial difficulties during the pandemic, even though there’s been an “athleisure boom” for companies like Lululemon, Adidas and Nike.

Under Armour’s 2020 sales have fallen short of last year’s sales. Revenue in North America fell 5%, to $963 million, in the third quarter.

Nike has long been the market leader in athletic footwear. In June, Forbes noted that revenue for the Jordan Brand jumped 15% for the year to $3.6 billion. Sales were boosted by NBA legend Michael Jordan, who headlined the popular documentary series, "The Last Dance."

Shares of Under Armour were trading at $16.54, down 14 cents, or 0.84%, as of Monday at 11:30 a.m. ET.