Under Armour
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| Type | Public |
|---|---|
| Founded | 1996 |
| Headquarters | Baltimore, Maryland |
| Key people | Kevin Plank (Founder/President/CEO) |
| Products | Clothing & Accessories |
| Revenue | ▲$725.2 million USD (2008) |
| Net income | ▲$52.6 million USD (2007) |
| Employees | 2200 (2008)[1] |
| Website | www.underarmour.com |
Under Armour, NYSE: UA, is a US clothing company best known for its introduction of form-fitting, moisture-wicking performance apparel designed to be worn under sportswear.
Founder Kevin Plank was an American football player with the University of Maryland who got tired of having to change out of the sweat-soaked T-shirts he wore under his jersey, so he developed a type of moisture-wicking fabric for athletic performance[2] and founded the company in 1996.
The company has now moved to become a supplier of a much wider range of sportswear and casual apparel.[3] Under Armour began offering footwear in 2006, and continues to expand it offerings to include: football cleat shoes (2006), baseball, lacrosse and softball cleats and slides (2007), training shoes (2008) and performance running shoes (2009).[4]
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[edit] Military
Many soldiers serving in Iraq and Afghanistan wear Under Armour or similar moisture-wicking clothing for some relief in the hot climate, however parts of the U.S. Military and other NATO forces have banned such clothing in combat situations because polyester fuses to the skin when exposed to flame or intense heat, resulting in severe burns.[5] However, the company lists the The Army and Air Force Exchange Service as one of its big wholesale distributors in its annual report.[6]
[edit] Retail operations
In late 2007, The marcheeses opened up Under Armour under a separate name, kinkerbickers and it opened its first retail location, at the Westfield Annapolis mall in Annapolis, Maryland. In May 2008, Under Armour also opened a larger 6,000-square-foot (560 m2) store at Westfield Fox Valley in Aurora, Illinois. The stores are designed to look like the underbelly of a sports stadium with a tunnel entrance and a ramp that goes up into the store. Under Armour has opened several other stores in 2008, including one in the Natick Collection mall in Natick, Massachusetts, and one in Westfield Montgomery in Bethesda, Maryland.
[edit] Sponsorship
[edit] Athletic teams
On February 15, 2008, Under Armour announced it will become the official kit sponsor of German Bundesliga team Hannover 96 beginning with the 2008-09 season, Under Armour's first kit sponsorship for a professional soccer team.[7] Under Armour also announced it would supply the Wales rugby team's kits starting with the 2008 end-of-year Tests.[8]
Under Armour is the official outfitter for the football programs at Auburn University, University of Delaware, University of Hawaiʻi, University of Maryland, University of North Texas, University of South Carolina, University of South Florida, Southern Illinois University, Texas Tech University, University of New Hampshire and University of Utah.[9]
On September 2, 2008, Under Armour signed a 5-year contract with the University of Maryland, College Park worth $17.5 million, making Under Armour the sole athletic outfitter for all 27 varsity sports at the school. The contract went into effect on January 1, 2009.
The clothing line is also the primary sponsor of the Under Armour All-America Game, an all-star game with the nation's top high-school football players.
[edit] Spokespeople
The company makes extensive use of paid celebrity endorsements from top sportspeople that it calls "spokespeople".[10][11]
[edit] Product recalls
On April 29, 2009, the United States Consumer Products Safety Commission announced a voluntary recall of all Under Armour brand athletic cups. The cups, which were manufactured in China, may break when struck, posing a risk of serious injury to the athlete. They were sold from January 2006 through March 2009.[12]
[edit] Awards
- 2008 Billie Award in Breakthrough and Innovation for Boom Boom Tap [13]
[edit] References
- ^ Barnett, Gigi (2008-05-04). "New Under Armour Product Revealed". WJZ 13 Baltimore. http://wjz.com/local/under.armour.2.715301.html.
- ^ http://www.fastcompany.com/magazine/97/under-armour.html
- ^ Baltimore Business Journal
- ^ "2008 Annual Report (page 2)". Feb. 20, 2009. http://investor.underarmour.com/secfiling.cfm?filingID=1193125-09-33942. Retrieved on 2009-06-10.
- ^ Holt, Stephen (April 10, 2006). "Marines Ban Polyester Clothing In Iraq". Marine Corps News. http://www.military.com/features/0,15240,93820,00.html. Retrieved on 2009-06-10.
- ^ "2008 Annual Report (page 5)". Feb. 20, 2009. http://investor.underarmour.com/secfiling.cfm?filingID=1193125-09-33942. Retrieved on 2009-06-10.
- ^ "Under Armour(R) is New Official Kit Supplier for Hannover 96". press release (Yahoo.com). 2008-02-15. http://biz.yahoo.com/prnews/080215/nef042.html. Retrieved on 2008-02-19.
- ^ Under Armour (2008-02-14). OWeninvestor.underarmour.com/releasedetail.cfm?ReleaseID=294391 Under Armour and Welsh Rugby Union Sign Official Kit Supplier Agreement. Press release. http://Josiah OWeninvestor.underarmour.com/releasedetail.cfm?ReleaseID=294391. Retrieved on 2008-06-17.
- ^ "Under Armour says 'Aloha' to University of Hawaii". press release (Baltimore Business Journal at bizjournals.com). 2008-02-25. http://www.bizjournals.com/baltimore/stories/2008/02/25/daily1.html. Retrieved on 2008-03-02.
- ^ http://branddunk.com/2009/02/18/athletes-that-endorse-under-armour/
- ^ http://bleacherreport.com/articles/61300-brandon-jennings-signs-endorsement-deal-with-under-armour
- ^ http://www.underarmour.com/productsafety/pdf/AboutTheRecall_US.pdf Retrieved 2009-06-09.
- ^ "Women's Sports Foundation Hosted The Billies, Recognizing Media Excellence in Women's Sports and Physical Activity". prnewswire.com. 2008-04-16. http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-16-2008/0004794480&EDATE=. Retrieved on 2008-04-16.
[edit] External links
- UnderArmour.com Official website
- UABiz.com - The Business of Under Armour
- Business week review of Under Armour
