$120M loss clouds Stephen Curry’s Michael Jordan dreams of major U.S. industry

It’s hard to emulate Michael Jordan’s impact on the sneaker industry, but Stephen Curry is certainly willing to try. When Jordan entered the league, Nike was nowhere near the powerhouse it is today. However, as Jordan’s popularity soared, so did Nike’s, transforming from underdog to industry leader. This successful cooperation eventually led to the birth of Jordan Brand (formerly Brand Jordan). Under Armor’s collaboration with Curry thrust them into the spotlight after years of being overshadowed by the footwear giant. As a result, Stephen became the second player after MJ to have his own brand (Curry Brand) under the parent company.

However, while Curry dreams of a Jordan-like future for his brand, his shoes haven’t captured the hearts of sneakerheads in the same way. Additionally, Curry is in the twilight of his career and has little time to make the impact he wants. Recent financial setbacks have only exacerbated their troubles.

Stephen Curry is racing against time to fulfill the dream MJ inspired

According to the latest report, Under Armor’s North American revenue fell 12%, losing $120 million compared with last year’s revenue of $1 billion. Over the past decade, Under Armor has been working hard to establish a significant presence in the streetwear market. Although Curry has developed and released 11 new designs since 2013, they haven’t been able to launch a product that sneakerheads will flock to. “It’s definitely a challenge. “It’s something you have to earn over time,” Curry said before the NBA All-Star Game earlier this month. However, Curry turns 36 in a few days, and time is of the essence for him. So he’s taking a Michael Jordan-esque approach to establishing himself in the industry.

In October, they hired Sacramento Kings guard De’Aaron Fox as their first sponsored athlete, similar to the path Jordan followed. In 2004, after retiring, MJ signed Carmelo Anthony as another endorser of his brand, providing him with his first pair of non-MJ signature Jordans. Curry still has about four to five years left in his NBA career, and he will also be actively recruiting athletes to uphold his legacy once he leaves the spotlight. “The focus now is on laying the foundation. “I want them to be well-oiled machines so that when I’m done playing, I can spend more time on them and make the most of the platform I have,” Proclaimed four-time NBA champion.

Currently, the Curry Brand’s annual sales of US$250 million are far from the Jordan Brand’s annual sales of US$5 billion. So the ultimate goal was to create something on the same scale as MJ. “You look at examples like Jordan Brand – the pinnacle of athletes taking their platform and presence and turning it into something,” Curry said. “I’m trying to build my version of that.”