Remember the latest Stephen Curry shoes that the internet spent a whole week roasting? The Golden State Warriors star may have been the butt of the jokes initially but Under Armour and Curry knew what they were doing. They'll end up having the last laugh when it's all said and done with this shoe. UA went into the design of the shoes knowing what their customer base wanted and because of that, they went with plain shoe design instead of trying to reinvent the industry.
Turned out to be a smart decision because the "Chef" Curry Two sold out almost immediately. Curry's shoes have boosted Under Armour's basketball sales and the net revenue from the second quarter was up 58 percent year over year, according to Yahoo Finance. Curry's shoes themselves, even when released just 19 days before the end of the second quarter, accounted for five percent of the sales, which is an insane level of production.
Under Armour's coup in signing Steph Curry was huge, a deal that could be worth up to $14 billion when all is said and done, according to Morgan Stanley analyst Jay Sole. The brand wasn't about to blow it all by designing something fanciful and outlandish.
And they didn't. The shoe completely sold out as of July 20th, according to USA Today. Under Armour's net revenue from footwear for the second quarter grew 58% year over year, lead by the Steph Curry line.
The Chefs themselves accounted for 5% of the sales of the Curry 2 line, according to a note by Canaccord Genuity to investors. Not bad for a shoe that was released on June 11th, a mere 19 days before the close of the quarter.
Does this mean we shouldn't roast the shoes or shoes in the future when they have a funny meme attached to them? Absolutely we should still roast future shoes. Just know that the companies probably still know what they're doing when they design them. UA's customers wanted basic and they gave them exactly what they wanted.
Not every shoe will be those Kobe Bryant Stormtrooper shoes that you would only own ironically.