00:00The future of Curry Brand is with Lee Ning.
00:04And it starts with Mr. Lee Ning himself,
00:07an athlete founder who's built one of the world's most premium sportswear brands
00:11over the last 35 years.
00:13Together, we will continue the Curry Brand mission
00:16with stories, platforms, and products
00:18that will inspire the next generation around the globe
00:23and change the game for good.
00:28U.S. basketball star Steph Curry announcing his signing
00:32a 10-year deal with Chinese sportswear giant Lee Ning
00:35ending his free agency after leaving Underama in November.
00:40The agreement expands the Curry Brand covering basketball, athleisure, and golf.
00:45For more on what this means for Lee Ning and the Chinese sportswear market,
00:48let's bring in Bloomberg Intelligence senior analyst Catherine Lim.
00:51And Catherine, I mean, it is a huge deal.
00:53It is a 10-year deal.
00:56What does it mean for Lee Ning and its global ambition?
01:00So, Haslinda, we're talking about Lee Ning signing, you know,
01:04one of the largest stars that we have actually seen
01:08within the portfolio of Lee Ning and ANTA.
01:11And taking a step back, you know,
01:13they've actually gone into collaborations tied up with various NBA stars.
01:18And I think by far, I have to admit, you know,
01:20Stephen Curry, Lee Ning actually inked itself one of the biggest
01:24that, you know, has gone into Chinese sportswear's record.
01:29And really right now going forward,
01:31it's going to be really interesting to see how Lee Ning balance,
01:34you know, the Chinese Olympic sponsorship
01:36that effectively, you know, kickstart this year
01:39or, you know, already in the late part of 2025.
01:45And then now with Stephen Curry on the basketball side.
01:49Really, it is a sign that, you know,
01:51they are very committed into, you know,
01:54upkeeping the basketball franchise,
01:56which we all know is a big thing in China.
01:58And they are likely going to position this brand
02:01as the upper end of the market.
02:04So it will be interesting to actually see the store formats,
02:07you know, of the products that will be rolled out in China.
02:10Right. Kat, do you see other Chinese companies
02:14doing the same thing, signing up big U.S. stars?
02:19I think, again, it's going to be really selective,
02:21has Linda.
02:22This is not a new marketing, you know,
02:26tool that the sportswear companies,
02:29particularly those in China, use.
02:31I mean, NBA themselves, they've also had stores in China.
02:34So, you know, really, I think it is about how they have a plan
02:40that effectively, you know, combine products with campaigns,
02:44as well as, you know, the narrative that goes behind the star,
02:49the sport itself.
02:51That will be the key thing that will effectively drive,
02:55you know, things to come.
02:56And again, I must use Anta and Clay Thompson,
03:00the deal that they've actually inked since 2014,
03:03if I'm not mistaken, as an example,
03:06that, you know, in the course of the last more than a decade,
03:10they've sold 10 million shoes,
03:11but it is via a very well-crafted strategy of products,
03:16as well as now what we have actually seen, store outlets.
03:19So, let's see.
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