$120 Million Loss Burdens Stephen Curry’s Michael Jordan Dreams In Key American Industry

It is hard to emulate Michael Jordan‘s impact on the sneaker industry, but Stephen Curry would sure like to try. When MJ entered the league, Nike was far from the powerhouse it is today. However, as Jordan’s popularity soared, so did Nike’s, transforming them from underdogs to industry leaders. This successful partnership eventually led to the genesis of Jordan Brand (formerly Brand Jordan). After years of being overshadowed by footwear giants, Under Armour’s collaboration with Curry thrust them into the limelight. As a result, Steph became the second player, after MJ, to have his own brand (Curry Brand) under the parent company’s umbrella.

However, while Curry dreams of a future for his brand akin to Jordan’s, his shoes have not captured the hearts of dedicated sneaker enthusiasts in the same way. Moreover, with Curry in the twilight years of his career, he has little time to make the kind of impact he wants to. The recent financial setback has only compounded his troubles.

Stephen Curry is racing against time to fulfill MJ-inspired dreams

As per the latest reports, Under Armour reported a 12% drop in North American revenue, a $120 million loss compared to last year’s revenue of $1 billion. Over the last decade, Under Armour has struggled to establish a significant presence in the streetwear market. Despite developing and releasing 11 new Curry designs since 2013, they have failed to come up with a product that would have sneakerheads lining up around the block. “It’s a challenge for sure. It’s something that you have to earn over time,” said Curry ahead of the NBA All-Star game earlier this month. However, with Curry turning 36 in a few days, time is of the essence for him. Thus, he is taking a Michael Jordan-esque approach to establish his footing in the industry.

This October, they added Sacramento Kings guard De’Aaron Fox as their first-ever sponsored athlete, similar to the path Jordan followed. In 2004, following his retirement, MJ signed Carmelo Anthony as another face of his brand, granting him the first-ever non-MJ signature Jordans. With about four to five years remaining in his NBA career, Curry is also actively recruiting athletes to uphold his legacy once he steps away from the spotlight. “Right now, it’s about setting the foundations. I want them to be well-oiled machines so when I’m done playing I can spend more time on them and take full advantage of the platform that I had,” stated the 4x NBA Champion.

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Currently, Curry Brand’s $250 million in yearly sales is a far cry from Jordan Brand’s $5 billion in annual sales. Therefore, the ultimate goal is to create something of the same magnitude as MJ did. “You look at examples like the Jordan brand — the peak of an athlete taking their platform and presence and turning it into something,” said Curry. “I’m trying to build my version of that.”

Read More: Despite 50pt Playoff Humiliation, Stephen Curry Happily Joins Forces with Kings’ De’Aaron Fox for Under Armour Deal: “The Mission Continues…”