(BALTIMORE) – Apparel and sporting retailer Under Armour has announced the release of a new line of basketball shoes they hope will cut into Nike’s 95 percent share of the industry.
The company announced the release of the Micro G line Saturday. The line will include four basketball sneakers that range in price from $80 to $110.
Under Armour executives hope the shoes will appeal to more customers and raise the company’s brand awareness.
“None of us want to be anything but number one,” said Under Armour executive Gene McCarthy, according to the Baltimore Business Journal.
As of Oct. 3, Nike and its affiliated brands owned 95 percent of the basketball shoe sales in the U.S., according to research from SportsONESource.
The next closest market share is held by German-based Adidas AG with just 1.98 percent of sales.
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