The relationship with Steph Curry and Under Armour is over.
Curry signed with the brand in 2013 after splitting with Nike, and created the Curry Brand in 2020.
That brand will become independent after a final release by Under Armour of the Curry 13 in February.
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“Under Armour believed in me early in my career and gave me the space to build something much bigger and more impactful than a shoe. I’ll always be grateful for that,” Curry said in a statement.
“Curry Brand was created to change the game for good and over the past five years, we successfully changed the game for kids, for communities, and for basketball.
“What Curry Brand stands for, what I stand for and my commitment to that mission will never change, it’s only growing stronger. I’m excited for a future that’s focused on aggressive growth with a continued commitment to keep showing up for the next generation.”
Steph Curry in 2025. Getty
In 2016, many outlets worldwide, including the New York Times, quoted the projections from Morgan Stanley analyst Jay Sole that Curry could be worth $14 billion to the company.
Sole foreshadowed the possibility that Under Armour could end Nike’s dominance in the shoe market. However he warned consumers could be buying products due to Curry and not aligning with Under Armour.
You could argue the latter was true.
When he originally signed with Under Armour, it was a deal worth $6.1 million ($US4 million) to Curry.
When he re-signed in 2023 on what was meant to be a long-term extension, Curry’s deal included a bunch of bonuses, including 8.8 million Under Armour common shares, which were valued at $114 million at the time.
Part of that deal also included a portion of the Curry Brand’s yearly revenue being invested into under-resourced communities.
A close up of the Under Armour sneakers worn by Stephen Curry #30 of the Golden State Warriors during their game against the Denver Nuggets on October 23 in San Francisco. Getty
Under Armour has been struggling financially in recent years amid declining demand and tariff-related costs.
Chief executive Kevin Plank claimed the decision was ideal for both parties.
“For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround. And for Stephen, it’s the right moment to let what we created evolve on his terms,” Plank said.
Reuters reports about 30 per cent of the company’s merchandise was sourced from Vietnam, exposing it to US President Donald Trump’s 20 per cent tariff on Vietnamese goods and a 40 per cent duty on trans-shipped items through the country.
Under Armour has predicted $100 million in incremental tariff costs this year.
Shares for the company have fallen about 44 per cent this year.
