Stephen Curry just signed with Li-Ning, positioning the Chinese brand to overtake Nike in Greater China by 2030. While The Swoosh once dominated the region unchallenged, thanks to supertstars like Kobe Bryant, local disruptors have aggressively closed the gap. Nike desperately needed a superstar counter-strategy to protect its market share, but Curry’s jump to Li-Ning doesn’t bode well, serving as direct payback for how the brand once undervalued him.

Signed on June 1, Curry’s 10-year deal aims to grow the brand in the US and China, utilizing its existing network of 7,000 stores in Asia. As per CNN, the agreement will include “basketball products, athleisure lifestyle wear, the ability for Curry to sign male and female athletes under his brand, and a full golf line”.

Notably, the Warriors star is one of the most popular American athletes in China. He’s toured China with Under Armour and also launched Curry Camp and Curry Con in the country last year. Before signing the Warriors superstar, Li-Ning reportedly recorded 98% of its $4.3 billion revenue through China. Nike stood taller, generating $6.59 billion through the Greater China region. Looks like the gap is closing fast.

“This is bigger than a shoe deal, bigger than a signature series. This is a partnership of a lifetime,” even Curry remarked on Instagram, talking about the deal.

Well, that’s got to hurt Nike’s top bosses, especially after the way they fumbled a deal with Curry back more than a decade ago.

“I stopped paying attention after that,” Dell Curry told ESPN. “It became evident to him that his son would never reach the top tier at Nike.”

According to Sportico’s Eben Novy-Williams, the current calculations from the past three years suggest Li-Ning would overtake Nike’s sales by 2030.

As things stand, Nike’s China revenue is already down 28% over the last three quarters compared to where they stood five years ago. The strained relationship between the USA and China hasn’t helped either.

To put it shortly, China absolutely loves Stephen Curry. And he’s now joined the brand started by one of the country’s Olympic heroes. As if his appeal needed any boost, signing with Li-Ning catapults his fandom to unprecedented heights. This partnership probably means more engagement with the local community and tailored offerings based on the market. Nike may lose to Li-Ning in the global basketball market if the Curry Brand explodes, even before 2030.

According to reports, Curry was convinced to sign with Li-Ning after his comfort while testing the shoes of two Li-Ning signature athletes: Warriors teammate Jimmy Butler and NBA legend Dwyane Wade.

Stephen Curry is here to compete and conquer

The goal isn’t to just win over the market in China. Curry’s mission for his brand is still the same as when he was trying to build it with Under Armour before their split in November last year. The two-time MVP wants to change the game, and Li-Ning offers him every bit of freedom to do so.

While Li-Ning’s presence in Asia didn’t need help, there’s more to this partnership. Leveraging Curry’s popularity in the States, Li-Ning is keen on opening more stores in the USA to build visibility.

The Chinese brand offers quality apparel at lower price points than Nike. Imagine, as a fan, getting to buy a piece of Stephen Curry’s creation at prices that are much kinder to the wallet compared to the big players. Golf also becomes an entirely new vertical with untapped potential for Curry. He won the 2023 American Century Championship and has connections to prominent golf athletes.

As a global phenomenon, it doesn’t get any bigger than this. Stephen Curry is here to capture the world with Li-Ning. Nike had Curry before his rise, but failed to invest in his brand vision, a miscalculation now costing them market share. Now Curry may become the biggest reason they lose one of their most profitable markets.