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Under Armour

From Alfawiki
Under Armour, Inc.
Company typePublic
IndustrySportswear, Footwear, Apparel
FoundedSeptember 25, 1996; 30 years ago (1996-09-25) in Washington, D.C., United States
FounderKevin Plank
Headquarters
Baltimore, Maryland
,
United States
Area served
Worldwide
Key people
John Varvatos (Chief Design Officer, since 2023), Patrik Frisk (former CEO), Kevin Plank (Founder and returning CEO from 2024)
ProductsAthletic footwear, apparel, sports equipment, connected running shoes
Websitewww.underarmour.com

Under Armour, Inc. is a U.S.-based sportswear manufacturer specializing in footwear and apparel, with its headquarters located in Baltimore, Maryland.

20th century

Established on September 25, 1996, by entrepreneur Kevin Plank, a former football captain at the University of Maryland, Under Armour originated as a startup operating from Plank’s grandmother’s basement in Washington, D.C. Drawing from his athletic background, Plank concentrated on creating innovative moisture-wicking apparel aimed initially at college and professional athletes. His first significant transaction amounted to $17,000 in 1996, after which he shifted the company’s base to Baltimore.

Plank engineered a T-shirt crafted from synthetic microfiber materials designed to keep athletes dry, setting Under Armour apart from traditional cotton-based sportswear. This breakthrough allowed the brand to compete with established players such as Nike, Adidas, and Reebok, who eventually introduced their own moisture-wicking collections. The brand name employs the British spelling "armour" due to the availability of a matching vanity toll-free number.

Under Armour gained early visibility when quarterback Jeff George donned its gear on the cover of USA Today. The company secured contracts with prominent NCAA Division I football programs including Georgia Tech, NC State, and Arizona State. By the close of 1996, Under Armour had sold 500 HeatGear shirts and broadened its product range to include ColdGear, TurfGear, AllseasonGear, and StreetGear lines. In 1997, with $100,000 worth of orders secured, Plank collaborated with a manufacturing facility in Ohio for production.

A pivotal moment came in 1999 when Warner Bros. showcased Under Armour apparel in films such as Any Given Sunday and The Replacements. Leveraging this exposure, Plank invested in advertising through ESPN The Magazine, resulting in approximately $750,000 in sales—an early sign of the company's growth trajectory in the sportswear market.

21st century

In 2000, Under Armour became the official outfitter for the newly formed XFL football league. Three years later, private equity firm Rosewood Capital injected $12 million into the business. That same year marked the debut of Under Armour’s first television commercial featuring the slogan "Protect this house." The company went public on the NASDAQ stock exchange in November 2005, raising $153 million. By late 2007, Under Armour opened its inaugural full-line retail store at Westfield Annapolis mall in Annapolis, Maryland, followed by specialty shops and outlets throughout Canada, China, and 39 U.S. states—including Brand Houses established in Baltimore (2013) and Tysons, Virginia.

In 2009, Under Armour formed a partnership with Cal Ripken Jr.'s Ripken Baseball to supply uniforms for minor league and youth teams. Additionally, it became a principal sponsor of the reality television series Duck Dynasty, backing its central figure Phil Robertson.

The company provided speedskating suits for competitors at the 2014 Winter Olympics. Although initial concerns about performance caused a 2.38% drop in stock value, no defects were found in the design. Under Armour aggressively pursued athlete endorsements during this period; notably offering Kevin Durant a $250 million contract over ten years—though Nike ultimately secured Durant with a $300 million deal.

On January 21, 2014, Under Armour inked a groundbreaking 10-year agreement to supply uniforms and equipment to the University of Notre Dame, marking the largest such contract ever signed in collegiate sports. That year saw operating profits surpassing 30%, accompanied by a 62.5% increase in share price.

Following its November 2013 acquisition of MapMyFitness for $150 million, Under Armour expanded its digital offerings by purchasing MyFitnessPal for $475 million and Endomondo for $85 million in February 2015.

On January 6, 2016, Under Armour announced a strategic alliance with IBM to integrate Watson cognitive computing technology into its Internet of Things (IoT) products and UA Record application.

In July 2016, Under Armour leased the former FAO Schwarz flagship store location on New York City's Fifth Avenue, a sizable 53,000 square-foot space that previously commanded $20 million annually in rent. Originally slated for a 2019 opening, the launch was postponed until 2021; by March of that year, plans were underway to sublease approximately half of this area.

On December 5, 2016, Under Armour secured a decade-long contract as the official on-field uniform supplier for Major League Baseball, set to begin in 2020 and replacing Majestic Athletic. However, in May 2018 the company withdrew from this agreement to reduce costs by roughly $50 million; Nike took over MLB’s uniform contract starting January 2019.

In October 2019, founder and CEO Kevin Plank announced his intention to step down by January 2020 with COO Patrik Frisk named as his successor. In July 2020, Under Armour along with certain executives received Wells Notices from the U.S. Securities and Exchange Commission concerning accounting practices related to sales timing adjustments during 2015-2016. Despite reporting a revenue decline of 41% ($707.6 million) due to COVID-19-related retail closures that quarter, results still surpassed analyst forecasts.

Effective September 11, 2023, John Varvatos was appointed as chief design officer.

Effective April 1, 2024, Kevin Plank will return as CEO following Stephanie Linnartz’s tenure of just over one year.

Finances

Under Armour's global headquarters are situated in Baltimore, Maryland, complemented by regional offices located in Amsterdam (Europe), Shanghai (Greater China), and Panama City (international), among several other major cities worldwide.

For the fiscal year 2018, Under Armour reported a net loss amounting to US$46 million on revenues totaling US$4.977 billion, reflecting a 9.9% growth compared to the prior year. As of November 2018, the company's market capitalization surpassed US$10.7 billion.

Year Revenue
in mil. US$ 		Net income
in mil. US$ 		Total assets
in mil. US$
2005 281 14 204
2006 431 39 289
2007 607 52 391
2008 725 38 488
2009 856 46 546
2010 1,064 68 675
2011 1,473 96 919
2012 1,835 129 1,157
2013 2,332 162 1,578
2014 3,084 208 2,095
2015 3,963 233 2,866
2016 4,833 198 3,644
2017 4,989
4,006
2018 4,977
4,245
2019 5,267 92 4,843

Sales

In 2014, the breakdown of net revenues showed apparel contributing 74.3%, footwear 14%, and accessories 9.9%. From 2010 through 2014, revenue experienced consistent growth averaging 30%. During the fourth quarter of 2015, net revenues increased by 31% to $1.17 billion; the full-year revenue totaled $3.96 billion representing a 28% rise. This strong performance led to an upward revision of the 2016 revenue forecast to approximately $4.95 billion, indicating a projected increase of 25%.

Products

Under Armour's range includes athletic footwear and apparel such as t-shirts, jackets, hoodies, pants, leggings, shorts, sports bras, bags, face masks, gloves, caps, and protective equipment for sports. The company also provides uniforms for American football, basketball, and soccer teams across the globe.

The introduction of product lines like TurfGear, AllseasonGear, and StreetGear established Under Armour as a frontrunner in performance apparel categories. The launch of the Women's Performance Gear collection in 2003 further broadened its product diversity.

Technological advancements include the ColdGear Infrared collection debuted in 2013 that incorporates ceramic powder technology designed to retain body heat. Additionally, scent-control apparel introduced in 2012 aims to minimize wearer detectability. The Coldblack fabric technology reflects sunlight to help athletes stay cool under direct sun exposure.

In 2012, Under Armour initiated "The Wounded Warrior" football uniform project for teams at Boston College and the University of Hawaii. The Speedform footwear line—produced in China—experienced rapid growth with sales increasing by 31% from 2011 to reach $239 million by 2012.

At CES in 2018, Under Armour unveiled connected running shoes equipped with Bluetooth modules and motion sensors intended to enhance performance monitoring.

In November 2020, Under Armour expanded its brand portfolio through a partnership with NBA star Stephen Curry, launching the Curry Brand. This strategic initiative was designed to rival Nike’s Jordan Brand following stagnant revenues of $1.43 billion compared to the previous year.

Recalls

On April 29, 2009, the U.S. Consumer Products Safety Commission (CPSC) announced a voluntary recall involving all Under Armour athletic cups sold between January 2006 and March 2009 due to breakage risks that could cause serious injuries. Later on November 3, 2011, Under Armour recalled all Defender chin straps manufactured from January 2008 through September 2011 because metal snaps posed a laceration hazard.

Marketing and sponsorships

Under Armour's growth strategy prominently relies on endorsements from prominent athletes and celebrities to strengthen its position in the competitive sportswear market. A notable collaboration is with actor and businessman Dwayne Johnson, who has represented the brand since January 2016, significantly amplifying its promotional reach.

In 2013, the company secured a deal with PGA Tour champion Jordan Spieth, leveraging his trio of major victories to introduce the "Spieth One" golf shoe, thereby broadening its golf footwear offerings.

The brand’s approach to product placement incorporates partnerships with major Hollywood films such as Any Given Sunday (1999), Friday Night Lights (2004), The Blind Side (2009), The Dark Knight Rises (2012), and The Martian (2015), enhancing its exposure in entertainment media. Additionally, Under Armour collaborated with costume designer Alexandra Byrne to provide tactical base layers for Marvel Cinematic Universe productions.

NBA Most Valuable Player Stephen Curry plays a central role in Under Armour’s footwear division, having joined the company in 2013 after departing from Nike. Curry’s association has fueled considerable revenue growth and contributed to stock price movements linked to the performance of his signature shoe line, highlighting the impact of influential athletes on the company’s financial results.

In the realm of soccer, Under Armour became the Official Match Ball Partner for the North American Soccer League in 2016, signaling its expansion into international markets. That same year, it secured a groundbreaking $280 million, 15-year apparel agreement with the UCLA Bruins, establishing the largest sponsorship deal in NCAA history and strengthening its foothold in collegiate sports apparel.

Other significant partnerships include NBA player Joel Embiid, who joined as a sneaker endorser in 2018, and Under Armour’s role as official uniform partner for Unrivaled, the women’s 3x3 basketball league launched in December 2024—demonstrating leadership in emerging athletic sectors.

In Japan, member Jesse of idol group SixTones was appointed as Under Armour Japan’s brand ambassador in March 2025, supporting targeted marketing efforts to enhance regional growth.

Leagues & Associations

National teams

NFL players

MLB players

Leagues & Associations

  • Unrivaled – Official uniform outfitter and performance partner for the women’s 3x3 basketball league

NBA Athletes

Women's Basketball

Boxing

Mixed Martial Arts (MMA)

  • UFC – Designated official footwear provider through Project Rock, delivering performance shoes for UFC athletes' training and promotional events

Professional Wrestling

  • Bullet Club – Significant apparel brand alliance
  • Dwayne "The Rock" Johnson – Established long-term collaboration highlighting the "Project Rock" training equipment and clothing line
  • Drew McIntyre – Frontline figure for the new Project Rock campaign

Leagues & Associations

  • Horizon League – Official supplier of athletic footwear and apparel, outfitting all member institutions with performance gear

Teams

Leagues & Associations

Teams

NCAA Division III (D3)

Other

Golf

Leagues & Associations

  • Canadian Hockey League (CHL) – Exclusive partner supplying jerseys, socks, training footwear, and apparel beginning with the 2025-26 season

NHL Players

National Teams

Individual Athletes

Under Armour Fitness Performance Center and Historic Mural Obscuration

In 2015, Under Armour revealed plans to establish the Under Armour Fitness Performance Center within Baltimore’s Bank of America Building. The design included installing artificial turf in the lobby, which would cover original murals created by art deco artist Hildreth Meiere. This decision generated significant dispute since company founder Kevin Plank and associates had utilized tax incentives to restore the building, yet the artwork was concealed. Preservationists and local community members urged a reevaluation to protect these culturally significant murals.

Controversial Trophy Hunting Video

Under Armour launched a campaign in January 2016 highlighting female hunters, featuring Sarah Bowmar. In August 2016, footage emerged showing Bowmar’s spouse spearing a bear, provoking widespread condemnation internationally. In response to the backlash, Under Armour promptly ended its sponsorship agreement with Bowmar soon after the video's release.

Support for Trump Administration and Resulting Boycott

On February 7, 2017, shortly after Donald Trump’s inauguration, Under Armour CEO Kevin Plank publicly endorsed the administration’s pro-business agenda. This stance triggered negative reactions from several sponsored athletes, including Stephen Curry, who faced questions about his allegiance if corporate values conflicted with his personal beliefs. Dwayne Johnson also voiced disapproval over Plank allowing his personal opinions to affect relationships with brand partners and staff.

A week later, Plank published a full-page advertisement in the Baltimore Sun clarifying his views. He reaffirmed Under Armour’s dedication to diversity, entrepreneurship, and job creation while condemning the administration’s travel ban targeting seven Muslim-majority nations. Plank pledged opposition to policies detrimental to employees or communities.

On June 2, Plank openly criticized President Trump’s withdrawal from the Paris Climate Accord, emphasizing sustainability as a core element of Under Armour’s operations and its role in supporting American employment.

After public backlash over Trump’s response to events in Charlottesville, Plank resigned from the Manufacturing Jobs Initiative Council on August 14, 2017, distancing himself from the administration amid mounting pressure.

Flammability Concerns

In June 2018, a Facebook post alleged that Under Armour apparel was highly flammable and caused severe burns to a child. Although no product recalls followed and items met federal safety standards, a 2008 study by the United States Forest Service indicated that Under Armour fabrics carried a greater risk of burn injury compared to most other base-layer garments.

SEC Investigation

In November 2019, it was disclosed that the U.S. Securities and Exchange Commission had been examining Under Armour’s accounting methods for more than two years. By July 2020, the company confirmed receiving Wells Notices from the SEC concerning its accounting practices during 2015 and 2016.

Community Engagement

Under Armour directs its corporate social responsibility efforts through the initiative known as UA Give Back, which encompasses various programs such as UA Power in Pink, UA Freedom, and UA Win Global.

The UA Power in Pink campaign is dedicated to raising breast cancer awareness by encouraging women to engage in fitness activities. Meanwhile, UA Freedom provides support to the Wounded Warrior Project, assisting injured veterans and active military members. The UA Win Global program focuses on nurturing youth sports in underserved areas by improving athletic facilities, financing programs, and offering support to coaches.

Starting in 2012, Under Armour became a sponsor of Baseball Factory’s "Premium Video Program," which organizes more than 100 events annually for young athletes throughout the United States.

In response to concerns about advertisements appearing on extremist YouTube channels, Under Armour chose to remove its ads from Alphabet Inc.'s platform to safeguard its brand image.

See also

External links

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