Under Armour announced that it will end its 12‑year partnership with NBA star Stephen Curry and separate the Curry Brand from the company. The move is part of a broader restructuring plan that will add up to $255 million in charges, including contract terminations, severance, and asset impairments. Management projects the Curry Brand to generate $100 million to $120 million in revenue in fiscal year 2026, a figure that will be earned independently of Under Armour’s core operations.
The partnership began in 2013, when Under Armour signed Curry to a multi‑year endorsement deal that helped the company gain credibility in the basketball and sneaker markets. In 2020 the partnership expanded into the Curry Brand, a separate line focused on youth sports and community initiatives. The brand’s final Under Armour‑branded shoe, the Curry 13, will launch in February 2026, after which the brand will operate independently and seek new retail partners.
Under Armour’s recent quarterly results illustrate the financial context for the restructuring. In Q3 FY2025 the company reported revenue of $1.4 billion, a 6% decline from the prior year, while gross margin rose to 47.5% from 45.5% due to pricing power in core apparel and footwear. Q2 FY2025 revenue was $1.33 billion, down 5%, and the company posted a net loss of $18.8 million. As of September 30, 2025, $147 million of the $255 million restructuring charge had already been incurred, underscoring the scale of the cost‑cutting effort.
CEO Kevin Plank said the decision reflects a “discipline and focus on the core UA brand during a critical stage of our turnaround.” He added that the separation gives Curry “the right moment to let what we created evolve on his terms.” Plank also highlighted the company’s strategy to reposition the Under Armour brand, noting that the raised adjusted operating income outlook for FY2026 signals confidence in a more streamlined, resilient business model.
Investors viewed the restructuring and brand separation positively, citing the company’s increased adjusted operating income guidance for FY2026 and the perceived benefits of a focused core business. The announcement was seen as a step toward greater operational efficiency and a clearer brand strategy, even as the company continues to navigate declining revenues and significant restructuring costs.
The Curry 13 will be released in February 2026, and the Curry Brand will pursue new retail partnerships independently. Under Armour expects the brand to generate $100 million to $120 million in FY2026 revenue, while the company continues to develop new UA Basketball products and reinforce its premium positioning. The separation is intended to sharpen Under Armour’s focus on its core apparel and footwear lines while allowing the Curry Brand to grow on its own terms.
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