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Sneaker-nomics: Supply-and-Demand Economics in the Basketball Footwear Industry

 

Steph Curry: Great Season, Corny Shoes

Two-time NBA MVP Stephen Curry had a terrific season, but some would argue that his signature sneaker did not. In a recent article on the site Slate entitled “Why Does the World’s Best Basketball Player Wear Such Corny Sneakers?”, John Swansburg argues that Curry’s Under Armour sneaker, the Curry Two, has “almost no cultural cachet.” Swansburg says that Curry’s sneaker appeals to basketball players but has “not gained traction on the street, in the mall, or on the feet of cultural influencers.” The author specifically mentions that Drake partners with Nike and Kanye West designs for Adidas, but no similar celebrity would be seen wearing the Curry Two.

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I Wanna Be, I Wanna Be Like Mike!

Ever since the start of Nike’s Air Jordan brand — and the famous “Jumpman” logo that has become synonymous with it — the world’s biggest sneaker companies and best basketball players have marketed their footwear to both athletes and sneaker-heads. According to Forbes, even though Michael Jordan has been retired since 2003, his sneaker brand still earns him over $100 million every year.

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What IS Steph Up To?

More recent players have taken Jordan’s lead. On a recent edition of the Slate sports podcast Hang Up and Listen (sneaker conversation from 18:00-35:20 mark), host Josh Levin said, “Throughout the modern history of the NBA, having a signature shoe has been the pathway to broader cultural relevance, starting with Jordan up through LeBron and now with Steph. And the question is, ‘Is Steph Curry carving out a different pathway here…or does he want to have a similar path…in creating this shoe that people want to wear off the court?’”

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Will Curry 2.5 Save The Day?

Curry and Under Armour have not yet tapped into the full potential of the sneaker market. The good news is that the Curry 2.5 will reportedly debut in May. Will it be less corny than the Curry Two? Sneaker-heads can’t wait to find out.