Under Armour Inc. has laid off two employees who worked on Stephen Curry’s shoe and apparel brand and moved others to new jobs as the athletic company winds down its partnership with the basketball star.
Stephen Curry collaborated with Under Armour on branded goods – Curry
The company is disbanding the team that worked on the brand despite plans to sell new Curry merchandise through October, according to a person familiar with the matter who wasn’t authorised to speak publicly.
A spokeswoman for Under Armour said the company doesn’t comment on personnel-related decisions. Representatives for Curry didn’t immediately respond to messages seeking comment.
Last month Under Armour and Curry announced their surprise separation, ending a yearslong relationship that had helped boost sales and draw attention to the brand. Under Armour still plans to release the Curry 13 sneaker in February and says additional colorways and apparel collections will be available through October.
The end of the tie-up adds to growing pressure at Under Armour, whose shares have fallen 45% this year. The company has been trying to stem two years of sales declines by increasing marketing and prioritising core products.
The split came after Curry and his advisers became frustrated with what they considered to be a lack of investment in the brand and sales of the division hadn’t met their expectations or the company’s, Bloomberg News has previously reported.
Under Armour has said it will incur an additional $95 million in restructuring costs in part tied to the separation.
