Under Armour’s lineup of marquee-worthy athletes includes five-time Super Bowl champion Tom Brady, three-time NBA champion Stephen Curry and golfer Jordan Spieth, winner of three majors.
It’s a trio with unassailable athletic credentials. But edgy? Not particularly. Risky? Barely at all.
Nike’s decision to partner with activist and former NFL quarterback Colin Kaepernick in marketing campaigns points to differences between the athletic brand and Under Armour, its Baltimore-based rival, analysts say.
They say Under Armour is smaller and less established — it is 32 years younger than Nike — and can’t afford to take risks of that magnitude. After years of rapid growth,...