INTRO: Under Armour has established itself as a leading name in the sports apparel and footwear industry, known for its innovative approach to athletic wear. From its humble beginnings to its current status as a global brand, the company has made significant strides in both product development and market presence. Here are ten interesting facts that highlight the evolution and impact of Under Armour.
1. Under Armour Founded in 1996 by Kevin Plank in Maryland
Under Armour was founded in 1996 by Kevin Plank, a former college football player at the University of Maryland. Plank aimed to create a better alternative to traditional cotton athletic apparel, which would retain sweat and become heavy and uncomfortable during workouts. He began by developing moisture-wicking fabric that would help athletes stay dry and comfortable. The company started in Plank’s grandmother’s basement, reflecting both its modest origins and the passion that fueled its creation.
2. The Brand’s First Product Was a Moisture-Wicking Shirt
The first product launched by Under Armour was a moisture-wicking shirt designed to keep athletes dry during physical exertion. This innovative fabric, known as "HeatGear," revolutionized the way athletes approached their training. Unlike traditional fabrics, HeatGear was designed to pull moisture away from the skin, enhancing comfort and performance. This concept quickly caught on with athletes, and the shirt became a bestseller, providing a solid foundation for Under Armour’s future expansion.
3. Under Armour Became Publicly Traded in 2005 on NYSE
In 2005, Under Armour took a significant step toward growth by becoming a publicly traded company on the New York Stock Exchange (NYSE) under the symbol "UA." This move not only provided the company with the capital needed to expand its product line and market reach but also increased its visibility among investors and consumers alike. The IPO marked a pivotal moment in Under Armour’s history, setting the stage for its rapid rise in the competitive athletic wear market.
4. The Company Reported Over $5 Billion in Revenue in 2020
Under Armour achieved a substantial milestone in 2020, generating over $5 billion in revenue. Despite the challenges posed by the COVID-19 pandemic, the company demonstrated resilience through its diversified product offerings and strong brand loyalty. This impressive revenue figure underscored Under Armour’s position as a key player in the sports apparel industry and reflected its ability to adapt to changing consumer needs while maintaining a strong market presence.
5. Under Armour Sponsors Major Athletes Like Stephen Curry
Under Armour has built a reputation for sponsoring high-profile athletes, with basketball superstar Stephen Curry being one of its most prominent endorsements. The partnership between Under Armour and Curry has not only boosted the brand’s visibility but has also led to the development of the popular Curry signature shoe line. This collaboration exemplifies Under Armour’s commitment to aligning itself with top-tier athletes who embody the brand’s values of performance and excellence.
6. The "UA" Logo Represents Strength and Performance
The iconic "UA" logo stands as a symbol of strength, performance, and resilience. Designed to be bold and recognizable, the logo represents Under Armour’s mission to empower athletes around the world. Over the years, the logo has become synonymous with high-quality athletic gear, reinforcing the brand’s commitment to innovation and excellence. It is often prominently displayed on products, serving as a badge of honor for athletes who choose to wear Under Armour.
7. Under Armour Operates Over 200 Retail Locations Worldwide
Under Armour has expanded its global footprint with more than 200 retail locations around the world. These stores not only offer a wide range of athletic apparel and footwear but also provide an immersive brand experience for customers. The retail locations are strategically situated in key markets, allowing Under Armour to connect directly with consumers and create a community around its brand. This extensive retail network enhances brand awareness and allows the company to showcase its innovative products.
8. The Brand Pioneered the Athletic Wear Market with Innovation
Under Armour is often credited with pioneering the modern athletic wear market through its focus on innovation. The company’s commitment to research and development has led to the creation of advanced materials and technologies, such as ColdGear and UA HOVR cushioning. These innovations have not only improved the performance of athletes but have also set new standards in the industry, prompting competitors to follow suit. Under Armour’s emphasis on innovation continues to drive its growth and influence in the sports apparel sector.
9. Under Armour Launched MyFitnessPal Acquisition in 2015
In 2015, Under Armour made a strategic move by acquiring MyFitnessPal, a popular fitness and nutrition tracking app, for $475 million. This acquisition was aimed at enhancing Under Armour’s digital health and fitness offerings, allowing the company to expand its reach beyond traditional apparel. By integrating technology into its business model, Under Armour is positioning itself as a comprehensive health and fitness brand, offering users tools and resources to enhance their athletic performance and overall well-being.
10. The Company Embraces Sustainability in Product Development
In recent years, Under Armour has taken significant steps towards sustainability in its product development process. The company has committed to reducing its environmental footprint through initiatives such as using recycled materials in its products and minimizing waste in manufacturing. Under Armour aims to inspire consumers to make more sustainable choices and is actively working towards incorporating eco-friendly practices across its operations. This commitment to sustainability reflects the company’s awareness of its impact on the planet and its responsibility to future generations.
OUTRO: Under Armour’s journey from a small startup to a global leader in athletic wear is marked by innovation, strategic partnerships, and a commitment to performance and sustainability. As the company continues to evolve and adapt to the dynamic sports landscape, its impact on athletes and the industry at large remains profound. These ten facts offer a glimpse into what makes Under Armour a standout brand in the competitive world of sports apparel.