Under Armour Inc.
said Monday that it will launch a new label, Curry Brand, with the NBA’s Steph Curry on Dec. 1.
Under Armour has partnered with Curry for years. The athletic company’s website currently features the Curry 7 collection of basketball sneakers.
The new Curry Brand, which will include shoes, clothes and accessories, will also have a philanthropic mission, with a portion of annual revenue going to under-resourced neighborhoods. The brand aims to create 20 safe play spaces, work with 125 programs for young athletes and train more than 15,000 coaches, all to help 100,000 youth by 2025.
Steph Curry and his wife, restaurateur, television personality and author Ayesha Curry, have their own charitable organization, Eat. Learn. Play. Foundation, focused on childhood hunger, education and physical activity.
According to data provided by Under Armour, low-income children are already six times more likely to quit participating in sports because of the financial cost involved. Due to rising costs from the coronavirus pandemic, the number will go up.
Curry Brand’s efforts will begin in Oakland, Calif., where a basketball court has been refurbished and children have received Under Armour face masks.
In addition to Curry Brand, Under Armour will soon launch the Curry 8 basketball sneaker, which will feature the company’s newest cushioning innovation.
Under Armour also has a partnership with Dwayne “The Rock” Johnson.
Under Armour reported third-quarter earnings that beat expectations at the end of October. Still, the company expects fiscal 2020 revenue to decline year-over-year and is forecasting a loss in the range of 47 cents per share and 49 cents per share. The FactSet consensus is for a 47-cents-per-share loss for the year.
Under Armour stock has slumped 23.6% for the year to date while the S&P 500 index
has gained 12.1% for the period.