Under Armour’s sneaker division has been losing cachet for a while now.
In a survey of young male consumers in the US by Wells Fargo earlier this year, Under Armour shoes ranked near the bottom in terms of favorability. In a note to investors, the bank’s analysts said that only 27% of survey participants ranked Under Armour favourably, while the Curry brand was even lower, at 19%.
For comparison, the young male consumers who were surveyed ranked Adidas at 70%, and Nike at the top with 81%. Participants could check as many boxes as they wanted. But that’s not the end of the bad news for Under Armour. In another survey question, the Well Fargo asked which brands the participants were more interested in purchasing than before, and which they were less interested in purchasing.
About 33% of the respondents said they were less likely to buy Under Armour shoes, and only 17% said they were more likely to buy them. That put Under Armour dead last with a net rating of -17%.
Under Armour shoe sales have basically flatlined this year. The basketball star Kevin Durant, signed with rival Nike, said in an interview in August that “everybody knows” that “nobody wants to play in Under Armours.”
With shoe sales being core business for athletic brands, accounting for around 65% of Nike’s sales but are just 20% of Under Armour’s business. Will UA be able to pick up the pace and would new hires in the design department make a difference?
Original content businessinsider