Check out this article in the International Business Times that I contributed to today:
Nike Inc. has had a stranglehold on the United States’ ultracompetitive sports apparel marketplace for decades, but surging competitor Under Armour is counting that a new, equity-based model for athlete endorsement deals will help loosen the grip. The company’s announcement this week of an extended partnership with the NBA's reigning MVP, Stephen Curry, marked at least the third time Under Armour has offered an equity stake to lure a popular endorser.
Under Armour has seen explosive growth since the release of its Curry-branded sneaker last February, with shoe sales up 40 percent to a company record $153 million last quarter. Curry, NFL star Tom Brady and golf prodigy Jordan Spieth all have equity-based deals with Under Armour.
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