Under Armour's (UA) "Speedier" sneakers due out early next year are definitely weird to look at, but telling as to how the athletic wear maker plans to grow its footwear business in the years ahead. The Speedtire, which TheStreet got its hands on ahead of a scheduled February 1, 2017 release date, is a shoe meant for weekend trail enthusiasts or those ripping up Tough Mudder-like obstacle course events. Developed in concert with tire maker Michelin, the shoes will cost about $125. TheStreet has also learned that Under Armour plans to launch at least three smart shoes next year under a line called "Europa." The introductions follow the UA SpeedForm Gemini 2 Record Equipped, a smart shoe Under Armour launched earlier this year. Meanwhile, Under Armour recently entered the lifestyle sneaker market. The UA Primo line, which is constructed from premium leather and waxed canvas, debuted on Nov. 1 at select boutiques nationwide for about $150 a pair. The raft of new footwear offerings bring Under Armour into fresh categories beyond its traditional running and basketball businesses. Under Armour sees growing its footwear business to $1.7 billion in annual sales by 2018 from $678 million in 2015.
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