Yet, in fiscal year 2016, Nike Basketball revenue grew only 2%. At initial glance, it appears that Nike's basketball business took a nosedive but the company actually changed it's external reporting. For the first time, Nike is reporting Jordan Brand independently from Nike Basketball.
It's gotta be the shoes
SOURCE: SSIDATA VIA MORGAN STANLEY.
With James and Irving upsetting the historic run of Curry and the Golden State Warriors, Nike should see an uptick in its basketball brand over the next year. Additionally, Nike may be able to make a further dent in cannibalizing Under Armour as Kevin Durant joins Steph Curry as a teammate in Golden State. However, the NBA's current superstars will still be light-years behind Jordan, who hasn't played professionally since 2003. Despite Curry's rapid rise in popularity, and even as King James brings the city of Cleveland its first sports title in 52 years, the basketball shoe and apparel crown still belongs to Michael Jordan.
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Palbir Nijjar owns shares of Nike, Under Armour (A Shares), and Under Armour (C Shares). The Motley Fool owns shares of and recommends Nike and Under Armour (A Shares). The Motley Fool owns shares of Under Armour (C Shares). Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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