It’s been a good week for Kanye. His new album is about to drop anytime, he sold out MSG for his listening party, and now he is seeing the brand he is a part of grow and grow. Meanwhile, his rival is seeing an unusual dip. From Investors.com:
“In the last week of January, the Swoosh saw a 9.1 percent decrease in footwear sales compared to a year ago…However, the basketball shoe category overall slid 13.7 percent from a year earlier. This caused Nike’s stock to slip 5 percent.”
They also gave us the numbers for how much the underdog brands have grown:
“Under Armour led the pack last week with a hefty 70.5% gain in athletic footwear sales as the trendy sportswear brand continued to gain momentum in the athletic shoe category. Still, Under Armour’s stock fell 4% Friday. Adidas, including its Reebok brand, saw athletic shoe sales rise a hefty 24.2% from a year earlier last week.”
Bill Simmons talked about this on his podcast with Al Michaels- the Steph Curry leaving Nike for Under Armour. When it happened, it didn’t seem like that big of a deal as they still had LeBron, Kevin Durant, and Kobe to name a few. But with the rise to stardom that he has had over the last year, he and Cam Newton are reviving the brand. Kanye is doing the same for Adidas as right now as he himself is one of the most influential people on the planet and he is married into the most influential family.
The ball don’t lie and neither do the numbers.