Under Armour might be encroaching in on Nike’s territory: the NBA.
USA Today has outlined the specifics of the crucial deal:
“Under the new deal, the Baltimore-based company will be the presenting partner of the league’s youth basketball program, Jr. NBA, and will also be the title partner of the NBA Draft Combine beginning in 2018 — a deal that the league describes as one that represents a ‘significantly expanded partnership’ between the two companies.”
Company representatives say this is just the beginning.
“It’s a huge deal and we couldn’t be more excited about it as we continue to build our brand and our business around the sport of basketball,” Adam Peake, Under Armour’s executive vice president of global marketing, said to USA Today.
Additionally, USA Today reports that as of 2018, the brand will create an apparel line for basketball.
Nike has currently been on track to be the NBA’s official uniform. In June, the NBA announced that Nike would be provider of the NBA’s official attire, beginning in the 2017-2018 season.
Nike has also dominated the NBA when it comes to footwear.
Since Under Armour signed a partnership deal with Stephen Curry, sales have been soaring for the company’s basketball shoes, which was evidence that Under Armour was truly a rising star.
Under Armour CEO Kevin Plank said in April that he wants to build a $US1 billion basketball brand around Curry, who was named the NBA’s 2014-2015 MVP earlier this month.
It will be tough to steal market share from Nike and its Jordan brand, however, which control about 90% of the US basketball shoe market and 62% of the total US footwear market.
As it stands, Under Armour has been incredibly successful as it continues to expand its empire.
Not only has the brand succeeded in becoming a major competitor in the athletic industry, but it’s also very successfully dipped its proverbial toes into the female-dominated athleisure field, proving it to be an able competitor for Victoria’s Secret and Lululemon.
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