- Facebook/Under Armour
However, shoe sales have been steadily falling since the Curry 3 signature model launched in October to weaker reaction than the first two models.
Now we finally know why: The shoes are just not cool.
Under Armour shoes ranked near the bottom of a survey of young male consumers by Wells Fargo. In a note to investors, the bank’s analysts said only 27% of survey participants ranked Under Armour favorably, and the Curry brand was even lower, at 19%.
For comparison, they ranked Adidas at 70%, and Nike was at the top with 81%. It’s worth noting that participants could check as many boxes as they wanted.
That’s not the end of the bad news for Under Armour, however. In another survey question, the bank 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%.
It appears that Under Armour has a poor favorability rating not just because it’s a younger shoe brand than its rivals – its cool factor and desirability are also low among young consumers.
Under Armour’s shoe sales have basically flatlined this year. The basketball star Kevin Durant, signed with rival Nike, said in an interview last month that “everybody knows” that “nobody wants to play in Under Armours.”
Shoes are a core business for athletic brands – they account for 65% of Nike’s sales but are just 20% of Under Armour’s business.