The recent shift toward casual lifestyle shoes and away from performance has relatively new footwear competitor Under Armour Inc (NYSE: UAA) looking off the court or field to enter this market.
Under Armour has taken a page out of adidas AG (ADR) (OTC: ADDYY)'s book and announced its latest release, the UA Threadborne Shift. The brand has partnered with musicians and viral YouTube stars to help endorse the product. The goal was to partner with unconventional leaders making waves in today’s culture- across art, dance, music and fashion.
Endorsing musicians and influencers as opposed to athletes has paid off handsomely for adidas and Puma AG Rudolf Dassler Sport (ETR: PUM). The cost of signing expensive basketball endorsers has not proven to be beneficial recently, given the decline seen in the performance basketball shoe segment.
Adidas notably saw a resurgence after it signed Kanye West, who created a lot of excitement around the brand. Puma followed suit by signing Big Sean, Kylie Jenner and Rihanna, who had a highly successful signature shoe release of her own. Under Armour is hoping this move can transform the brand's perception as a performance brand to something greater.
The UA Threadborne Shift will release nationwide on April 27 for $95.
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Image Credit: Provided by and used with expressed permission from UA
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