Under Armour restructuring includes split from its biggest star
Under Armour is parting ways with basketball star Stephen Curry as part of a restructuring initiative that includes focusing on its namesake brand.
The athletic apparel and footwear company said it plans to separate Curry Brand from Under Armour, ending a partnership “that has redefined performance product and athlete-led storytelling for more than a decade.” Under Armour had long played up its partnership with 11-time NBA All-Star.
Under the separation, Curry Brand will become independent of Under Armour, which will release the brand’s final shoe in February 2026 as planned. Additional colorways and apparel collections will be available through October 2026.
Curry signed with Under Armour in 2013 after four seasons with Nike. He will maintain sole ownership of Curry Brand, and is free to find another retail partner.
"It's been an incredible privilege to work with Stephen, who as president of Curry Brand has been much more than an ambassador — he's become a thoughtful and strategic business leader," said Kevin Plank, founder and CEO of Under Armour. "Together with our teammates, he helped build something rare: a brand with credibility, community impact, and product that performs at the highest level. For Under Armour, this moment is about discipline and focus on the core UA brand during a critical stage of our turnaround. And for Stephen, it’s the right moment to let what we created evolve on his terms. ”
Under Armour revealed the split the same day it announced expansion of its restructuring plan. The company said it now expects the plan will cost up to $255 million, which is $95 million more than it originally anticipated. This includes the separation of the Curry brand, additional contract terminations, impairment charges and severance costs.
Under Armour’s total basketball business is about 2% of total revenue, or between $100 million to $120 million in the current fiscal year. The company said it does not anticipate the Curry split will have a significant effect on its consolidated financial results or profitability.
Second Quarter
For its second quarter, ended Sept. 30, Under Armour’s revenue decreased 5% to $1.3 billion. North American revenue fell 8% to $792 million, while international revenue rose 2% to $551 million.
Wholesale revenue fell 6% percent to $775 million, and direct-to-consumer revenue declined 2% to $538 million. Revenue from owned and operated stores remained steady, while e-commerce revenue fell 8% and accounted for 28% of the total direct-to-consumer business for the quarter.
The company reported a net loss of $18.8 million, or earnings per share of $ 0.04, compared to a net income of $170.3 million, or earnings per share of $0.39, in the year-ago quarter.
"We delivered results ahead of our prior outlook this quarter and are encouraged to see signs of brand momentum in North America – an important milestone in our turnaround," stated Plank. "With our strategy, operating model, and go-to-market approach firmly in place, we're staying disciplined and focused. The response from consumers and partners reflects this execution, driven by stronger product, sharper storytelling, and a renewed belief in the Under Armour brand."
