Under Armour and the NBA report a global marketing partnership. Featured at RJO Ventures, Inc. (Miami, FL.)
(Video Source: Bloomberg Business)
USA Today has outlined the specifics of the crucial deal:
"Under the new deal, the Baltimore-based company will be the presenting partner of the league’s youth basketball program, Jr. NBA, and will also be the title partner of the NBA Draft Combine beginning in 2018 — a deal that the league describes as one that represents a 'significantly expanded partnership' between the two companies."
Company representatives say this is just the beginning.
"It’s a huge deal and we couldn’t be more excited about it as we continue to build our brand and our business around the sport of basketball," Adam Peake, Under Armour's executive vice president of global marketing, said to USA Today.
It will be tough to steal market share from Nike and its Jordan brand, however, which control about 90% of the US basketball shoe market and 62% of the total US footwear market.
(Source: Business Insider)