每经评论员孙宇婷 据安德玛的声明，与Curry品牌的一系列"分手费用"将达到2.55亿美元。而这笔"分手费"，正是库里启动 这场宏大商业实验的"天使投资"。 与此同时，这也是其职业生涯中最大的一场豪赌。独立意味着库里将直面曾经由安德玛承担的所有风 险：供应链管理、库存压力、渠道建设、团队搭建他将从一个只需负责"形象"的代言人，转变为需要对 财务报表最终负责的企业家。他的对手不再是其他球星签名鞋，而是整个运动品牌市场的既有格局。 4天前，知名运动品牌安德玛（Under Armour）与顶级NBA球星史蒂芬·库里（Stephen Curry）共同宣布 Curry品牌将独立运营，双方用满是"感激""荣幸""坚定"的辞令，为这段长达10余年的合作谱写了一曲体 面的终章。 回顾2013年，饱受脚踝伤势困扰的库里被"玻璃人"质疑笼罩，耐克在续约谈判中流露轻慢。那时正是他 职业生涯的十字路口，而当时在篮球市场声名不显的安德玛果断押注，以一份诚意合约接住了这位未来 的划时代巨星。 这对"患难之交"由此开启了相互成就的传奇。库里登上巨星神坛，安德玛则凭借Curry系列签名鞋的惊 人成功，将公司营收从2013财年的23.3亿美元 ...

从2020年开始，安德玛为库里推出了个人品牌，外界也因此常常把他与开启Jordan品牌传奇的迈克尔·乔丹作对比。但如今双方正式分道扬镳，库里个人 品牌的下一站在哪里？ 8月，库里抵达重庆。安德玛联合当地政府推出库里主题的无人机灯光秀，将球迷情绪推到顶点。为期三天的库里中国行吸引大量球迷参与，据当地媒体 报道，库里训练营活动现场连续三天座无虚席。根据安德玛官方数据，常规活动期共上线7500张门票，按1299元的最低票价计算，销售额接近1000万元。 但就在品牌端还沉浸在这场成功营销的余温中时，三个月后，一桩与库里相关的"大事"，为安德玛的未来投下新的变数。 11月14日，一纸官宣让许多人猝不及防：经过协商，安德玛计划将库里同名品牌Curry从安德玛业务体系中剥离。库里将"保留Curry品牌的全部所有权， 并可自由寻找其他零售合作伙伴"，安德玛明年2月推出"库里13代"球鞋，是库里在安德玛的最后一双签名鞋。 这也意味着，一段长达13年的品牌组合就要走到尽头。 2013年，库里离开耐克，加入安德玛。当时从训练服饰起家的安德玛，篮球鞋业务规模还很小，结果"库里一代"的爆红，让安德玛一度和耐克站到同一个 竞争层面。"捡 ...

We recently published 16 Latest Stocks on Jim Cramer’s Radar. Under Armour, Inc. (NYSE:UA) is one of the stocks on Jim Cramer's radar. Under Armour, Inc. (NYSE:UA) is another sports apparel firm that is in the midst of a turnaround. While he’s not as enthusiastic about the firm’s turnaround as he is with Nike, Cramer nevertheless believes that Under Armour, Inc. (NYSE:UA) can deliver. In a recent appearance, he commented that with “Under Armour, three quarters from now, you’re going to wish you were in.” ...

Core Viewpoint - Under Armour has ended its nearly 13-year partnership with basketball player Stephen Curry, leading to the independent operation of the Curry Brand, while Under Armour will focus on launching global basketball shoes and concentrating resources on its core business development [1][3][5]. Summary by Sections Partnership Termination - The strategic split allows the Curry Brand to operate independently, marking a new development phase for the brand [3]. - Under Armour plans to release the final Curry signature shoe, Curry 13, in February 2026, along with additional colorways and related apparel before October 2026 [3]. Historical Context - Under Armour signed Curry in 2013 after he felt overlooked by Nike, which significantly boosted Under Armour's revenue, with total revenue rising from $2.33 billion in 2013 to $4 billion in 2015, partly due to a 350% increase in basketball shoe sales [3][4]. - The partnership included a 9-year contract worth $215 million signed in 2015 and a $1 billion lifetime contract in 2023, which was unexpectedly short-lived [4]. Strategic Focus - Under Armour aims to build a brand that can compete with Nike's Jordan Brand, seeking new growth avenues [4]. - The decision to split is seen as a way for both parties to leverage their strengths, with Under Armour focusing on innovative products for athletes and Curry Brand pursuing its own direction [5]. Financial Performance - Under Armour has faced declining performance, with a 5% revenue drop to $1.3 billion in Q2 2026 and a net loss of $19 million [6]. - The restructuring plan includes a focus on core men's apparel and a reduction in promotional activities to improve profitability [6]. Future Plans - Despite the split, Under Armour intends to continue developing basketball products and supporting athletes [7]. - The company is exploring new opportunities in the competitive sports market, including partnerships with national teams and opening new stores [8].

Core Viewpoint - Under Armour and basketball player Stephen Curry have announced a strategic split regarding the Curry Brand, ending nearly 13 years of collaboration [1] Group 1 - The partnership between Under Armour and Stephen Curry has officially concluded [1] - The strategic separation involves the personal brand Curry Brand, which was developed during their collaboration [1]

Core Viewpoint - The Golden State Warriors star has the potential to take his Curry Brand independent or partner with another retailer, similar to the successful strategies employed by Federer and Tiger Woods after their separation from Nike [1] Group 1 - The possibility of the Curry Brand becoming independent could lead to new opportunities in the retail market [1] - The success of Federer and Tiger Woods after leaving Nike serves as a precedent for potential brand independence [1]

Core Viewpoint - Under Armour's long-term partnership with NBA champion Stephen Curry has ended, leading to the separation of the "Curry Brand" from Under Armour's business structure, which will now focus on its core brand and new UA basketball products [3][5][11]. Financial Performance - Since 2022, Under Armour has experienced three consecutive years of declining revenue and net profit, with the current year showing a loss [4][9]. - In the fiscal year 2025, Under Armour reported revenue of $5.2 billion (approximately 37.5 billion yuan), a year-on-year decrease of 9%, and a net loss of $201 million (approximately 1.44 billion yuan) [16]. - The Asia-Pacific region, including China, contributed over half of Under Armour's revenue, but this market has also seen significant declines, with a 13% drop in revenue [16]. Impact of Curry Brand Separation - The separation from Curry Brand is expected to diminish Under Armour's growth potential, as the brand has been a significant driver of sales [12][18]. - The collaboration with Curry, which began 12 years ago, initially led to substantial revenue growth, particularly after the launch of Curry's signature shoes, which generated $160 million in sales in their first year [6][11]. Market Position and Competition - Under Armour's decline is attributed to several factors, including failed product line expansions and missing out on the athleisure trend, compounded by increased competition from local brands like Anta and Li Ning [15][16]. - In contrast, Anta reported a revenue increase of 13.58% in 2024, reaching 70.8 billion yuan, showcasing stronger growth compared to Under Armour [16]. Consumer Perception - Consumer sentiment towards Under Armour has shifted negatively, with perceptions of declining quality and design, alongside high prices, hindering its appeal in the Chinese market [16][18]. - Following the announcement of the end of the partnership with Curry, there has been a notable "de-mystification" of the brand among consumers [14][18]. Strategic Adjustments - In response to declining performance, Under Armour has initiated several strategic moves in China, including partnerships with national sports teams and significant personnel changes to enhance market strategy [18].

Core Viewpoint - Under Armour plans to separate its Curry brand, ending a partnership with NBA star Stephen Curry that has lasted over a decade. The Curry brand will operate independently from Under Armour, which will focus on its core brand. The company expects that this separation will not have a significant impact on its consolidated financial performance or profitability [1]. Group 1 - Under Armour is ending its long-term collaboration with Stephen Curry [1] - The Curry brand will operate independently from Under Armour [1] - Under Armour will concentrate on its core brand following the separation [1] Group 2 - The company anticipates that the separation will not materially affect its financial results or profitability [1]

Core Insights - Under Armour announces the independent operation of the Curry brand, ending a decade-long partnership that redefined functional products and athlete-led narratives [1] - The company will focus on developing new basketball products while continuing to support athletes and basketball programs at all levels [1] Summary by Sections - **Strategic Split**: The Curry brand will operate independently from Under Armour, allowing both entities to leverage their strengths [1] - **Product Launch Plans**: Under Armour plans to release the final signature shoe, Curry 13, in February 2026, along with additional colorways and related apparel before October 2026 [1] - **Leadership Statement**: Under Armour's CEO Kevin Plank emphasizes that this decision is beneficial for both parties, enabling Under Armour to enhance its innovation for athletes while allowing the Curry brand to pursue its own direction [1]

Core Insights - Under Armour and Stephen Curry have mutually agreed to end their 13-year partnership as the company undergoes a broader restructuring [1][2] - The Curry 13 shoes will still be released in February, marking the final sneaker produced under their collaboration [1] - Under Armour's CEO emphasized the need for discipline and focus on the core brand during a critical turnaround stage [2] Company Performance - Under Armour has been struggling with declining sales for the past eight quarters, alongside executive turnover and a restructuring plan estimated to cost $255 million, which now includes costs related to the separation from the Curry brand [3] - The collaboration with Curry is expected to generate at least $100 million in revenue for the current fiscal year, but the company stated that the separation will not significantly affect profitability [4] - Under Armour's stock fell by 2% on the day of the announcement and has decreased nearly 50% over the past year [5] Historical Context - Curry joined Under Armour in 2013, choosing the smaller brand over Nike, and the Curry Brand debuted in 2020 [6] - In 2023, Curry signed a long-term extension that made him president of the Curry Brand, receiving 8.8 million Under Armour shares valued at approximately $75 million at that time [6]