Business Rumors

In his meetings with the three, LaVar insisted that the company license his upstart Big Baller Brand from him. He also showed the companies a shoe prototype that he hoped would be Lonzo’s first shoe. “We’ve said from the beginning, we aren’t looking for an endorsement deal,” LaVar told ESPN. “We’re looking for co-branding, a true partner. But they’re not ready for that because they’re not used to that model. But hey, the taxi industry wasn’t ready for Uber, either.”
2 days ago via ESPN
Storyline: Lonzo Ball Going Pro?
Under Armour CEO Kevin Plank admitted Thursday that sales for Stephen Curry’s current signature basketball shoe have been disappointing. “Our success in basketball hasn’t been without its learning,” Plank said on the company’s earnings call, during 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 3 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.
2 days ago via ESPN
The less-than-enthusiastic reception to the Curry 3 has resulted in several retailers discounting it. To get rid of those that haven’t sold, Under Armour has discounted the Curry 3 by almost 30 percent to $99.99. In November, Under Armour lost nearly $600 million of its value as a company after Foot Locker CEO Dick Johnson said the Curry 3 “started off a bit slower than the previous models.”
2 days ago via ESPN