Stephen Curry's signing with Li-Ning marks one of the most ambitious and significant moves in the history of sportswear in China, and one revenue chart describes exactly why this happened.

Sportico shared a concerning chart of Li-Ning's yearly revenues in China. The chart showed a dramatic increase in revenue starting in 2013, with revenues under 1 billion.

In 2024, revenues increased to over 4 billion. During this time, Nike's peak revenue from China was over 8 billion in 2021, after which revenues dropped to about 6.6 billion.

The change is certainly not random. Chinese consumers' attitudes have evolved to favor more domestic brands.

This change seems to stem from pride in domestic products as well as improvements in products on par with international options. Li-Ning no longer competes on price; it is competing on relevance.

Curry identified this market gap when he made his deal. This social media announcement details the 10-year deal with Li-Ning. This deal puts the 4-time NBA champ right in the middle of a market that has 450 million fans, and is larger than the entire US.

This is not a small niche market; this is a deal with a company that is drastically growing in a competitive market.

The move aligns with a pattern increasingly seen throughout the league. Kyrie Irving becomes the Chief Creative Officer of Anta after signing with the company. Austin Reaves collaborated with Rigorer to create his own signature sneaker.

Klay Thompson and Alex Caruso are also Anta athletes. Chinese sportswear brands are no longer aggressively signing overlooked players and are now signing the biggest players in the NBA, and the incremental sales support these signings.

That trend has its biggest signing yet, and the terms of Curry's deal support that Li-Ning is thinking big.

Inside Stephen Curry's 10-Year Bet on Li-Ning

Curry's latest shoe deal is something special. Curry's deal with Li-Ning will last for a decade and covers virtually every major category. They plan to launch Curry Brand stores in the US and in China. This is a serious endorsement deal.

It was not an easy journey to get to Li-Ning. After Curry and Under Armour split in 2025, Curry chose a different brand to warm up in every game.

He ultimately stuck with a warm-up shoe for the remainder of the season, while the curious fans attempted to figure out which brand he was sporting every time. Li-Ning was able to impress him with their shoe quality and their CEO's background as a former athlete.

When Curry made it official on Monday, he did not hold back.

He wrote on social media, "Curry Brand will now have an expanded runway of resources and a global footprint to bring new best-in-class innovations and amazing products to people around the world."

While the specific financial terms were not disclosed, it is evident what the deal is about. Curry is working on building his life after basketball with golf, and this deal has been created to grow along with that.

Comment down, could this deal change how NBA stars think about Chinese brand partnerships?

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Written by

Utsav Gupta

Edited by

Utsav Gupta