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Just name it
Mon, Mar 22, 2021
In this age of personalization, the biggest brand in marketing just didn’t do it.
Nike has dribbled its way to a monopoly when it comes to inking sponsorships and endorsements with the best players, especially in the NBA.
In 2012, Nike pitched to renew their contract with an upcoming star, Stephen Curry.
However, the underdog Under Armor blocked Nike from what should’ve been an easy slam dunk.
Under Armor outbid Nike (how did Nike even let that happen?), gave Curry ownership options of the company, and did something that should shame Nike – they got his name right!
The man from Nike who was asked to convince Curry ended up calling him “Stephan” instead of Stephen and also had Kevin Durant’s name in the slide deck.
Instead of renewing his Nike contract, the Golden State Warrior switched allegiance to Under Armor and cashed in as the company rebounded to double its market value from $14B to $24B.
Nike, on the other hand, was left to rue its double dribble and learn how to better its man-to-man marking.
Takeaway
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