This year's NCAA men's basketball tournament "March Madness" was once again filled with buzzer-beating shots, overtime thrillers and numerous upsets. However, we contend that competition off the court has been just as intense. Nike NKE has held the number-one seed year after year, and we recognize the strides Under Armour UA --the underdog--has made in performance athletic apparel. However, given that its lofty shares are trading at nearly two times our fair value estimate, we believe investors are overestimating the firm's underlying fundamentals. While its new cotton offering looks like a Blue Chip prospect, it still lacks big-game experience. Based on our initial channel checks, we believe that Under Armour is looking to rack up the score with its new cotton products, and we contend that its expanded lineup of cotton products could also boost the firm's position within the women's sports apparel segment. Although we believe the company has plenty of orders from chains such as Dick's Sporting Goods DKS and privately-held The Sports Authority, differentiation is a challenge. We believe that consumers may not understand the benefits of the new cotton shirt (priced at $25), especially when it sits next to a $19 polyester shirt, and is surrounded by $25, $30, and $50 compression/fitted shirts. Could Cotton-Picking Lead to Cannibalization? Like a blue chip prospect, there's potential here, and we view the launch of cotton products as an intriguing test of brand equity. We estimate that these offerings only account for--at most--2%-3% of Under Armour's sales at major sporting goods retailers this year, based on price points and on-hand units. ...

It was the late 1990s. And after years of trying on other people's, the teenage Wade finally got to wear his own Jordans (the XIII model, he said) during a holiday tournament. No surprise: As he remembers it, he played pretty well. "I [was] like Spike Lee," Wade said. "Is it the shoes? I don't know." Courtesy of Jordan Fly Wade Miami Heat superstar Dwyane Wade will wear his own signature model of shoe for the NBA playoffs. Now the Miami Heat star has his own Jordans -- as in, his own signature model under the brand: Nike's Jordan Fly Wade, which were unveiled at The Setai Hotel and Resort on South Beach (they'll be available for sale in the United States on May 5 and China on May 7). Naturally, the Chicago native who grew up thirsting for Jordans considers the new shoe "an honor" -- especially since his family struggled to afford them in his early years. Wade did get a few pair as his high school career progressed. But the former ...

This footwear will feature a collar lining and in-sock with bespoke argyle fabric that is finished for bound trim. It would also contain crafted with a mix of tonal suede and nubuck. It would be made up of cotton laces and a sun perfed toe box. Finally, it would have a PUMA Dallas logo on its side. This shoe is said to be a limited edition, only releasing 100 and 50 pairs and set to be release on April 2011. Nike Air Dt Max 96 Le in its New Colorway - Dark Grey/Black men nike shoes(http://www.discount-shoe-shop.com/men-sneakers-nike-shoes-c-1_23.html) Nike Air Dt Max 96 Le for men released another colorway. The previous edition of the shoe was first released in 2007 with the white and black joints with the golden yellow accents colorway and after three years, Nike Air Dt Max 96 Le was again released with the ...

Multimedia Watch The Video Third year Oregon head coach George Horton is on the bottom of the Ducks' spikes. In cooperation with the designers at Nike, junior pitchers Nike Air Max 2009 McGough and Tyler Anderson had a brilliant idea. All of the Oregon's workout shoes Nike Air Max 24-7 an image of Bill Bowerman (legendary Oregon Track & ...

Adidas worked with a French coder, Didier Brun, to create the 'Megalizer' system, promoting its new Mega brand in France. It places sensors in each shoe, along with a wireless transmitter Air Max Tailwind captures the pressure applied to the sensors. Users can control the sounds they make using Nike Air Max 1 interface. It's not the first time shoe manufacturers have experimented ...