Sales for the signature basketball shoe of NBA Golden State Warriors superstar Stephen Curry have been below expectations, Under Armour (Xetra: U9R.DE - news) chief executive officer Kevin Plank said Thursday.
Curry, the NBA's Most Valuable Player in the 2014-15 and 2015-16 campaigns, has the league's top-selling jersey and has sparked the Warriors to an NBA crown in 2015 and a record 73-win season in 2015-16 before losing to Cleveland in the NBA Finals.
But Plank said the 29-year-old guard's shoe sales showing was a disappointment to the Baltimore-based firm.
"Our success in basketball hasn't been without its learning," Plank said on the company's earnings call, in which Under Armour reported its first quarterly loss as a public company.
"As we launched the Curry 3 late last year, our expectations continued to run high. And while the Three played very well on court for Stephen Curry and our athletes, a sluggish signature market and a warm consumer reception led to softer than expected results."
The Curry One shoe debuted in 2015 at $120 (110 Euro), with prices rising for subsequent versions advancing into the Curry Two ($130), Curry 2.5 ($135) and Curry 3 ($140) footwear.
But Under Armour has trimmed the Curry 3 to just under $100 and unveiled the Curry 3Zero for the current playoffs at $120.
Plank said Under Armour will be sharper with future shoe launches "with respect to number of color offerings, scarcity, exclusive and cadence of launches to drive more consistent engagement and results."