Brian Sozzi Says Under Armour's New Basketball Shoes Represents An Underdog Story

In an article published Friday on The Street, retail analyst Brian Sozzi wrote that Under Armour Inc's (NYSE: UA) new basketball shoes, the "Curry One" is meant to send a clear message to its rivals that it is ready to compete with the "big boys."

Under Armour unveiled the Curry One on Thursday at an event in New York and is modeled after Golden State Warriors' point guard Stephen Curry. Sozzi noted that Curry's "underdog" background of not attending a big name college and drafted in the seventh round to becoming the 2015 NBA All-Star game's leading vote getter will serve as an ongoing marketing theme.

"But through hard work and dedication to honing his trademark 3-point shot, as Under Armour tells the story, Curry has been able to morph into what it calls the "baby-face assassin," Sozzi wrote. "But through hard work and dedication to honing his trademark 3-point shot, as Under Armour tells the story, Curry has been able to morph into what it calls the "baby-face assassin."

The Curry One line will include six different kinds of shoes and will begin selling on Friday at retailers for $120 – a price point that is almost half of some of Nike Inc's (NYSE: NKE) top selling basketball shoes.

Under Armour's Uphill Battle

Sozzi noted a report stating that Nike held an estimated 97 percent market share in the basketball sneaker market, implying Under Armour has an uphill battle to fight.

Nike is countering Under Armour's move by unveiling a new version of its LeBron 12 which will be worn by Lebron James during the upcoming NBA All-Star game. Also, Nike continues to push forward new versions of its Kobe X sneaker with one version set to be released on Friday and another on February 21. Also on Friday, Nike will release its new KD7 line, modeled after Kevin Durant.

While competition is certainly fierce, Sozzi explained that Under Armour's performance in the footwear category is gaining momentum. Footwear sales rose 55 percent in the quarter to $86 million and accounted for 10 percent of the company's total business.