Founded in 1995, Under Armour entered the established sports merchandise market with exciting new designs, partnerships with elite athletes and competitive pricing. New designs and materials helped the company establish itself, but never became a realistic threat to sports merchandise giants Nike and Adidas. Partnerships with collegiate and high school sports teams has helped increase brand awareness, but to compete with Nike and Adidas, Under Armour determined the need to introduce athletic shoes
Under Armour Organization Design Derrick Prempeh Benedictine University To understand the success of Under Armour, it is important to understand the creative beginnings of the organization. Kevin Plank, founder of Under Armour, knew that performance apparel would revolutionize the athletic gear industry. As a former student football player for the University of Maryland, Plank experienced first-hand the discomfort of undergarments during practices and games. He would have an idea to use
of innovation and brand value. 2 INTRODUCTION From a start-up business operated out of his grandmother’s basement growing into a billion-dollar enterprise, Kevin Plank has made Under Armour a top competitor in the sports apparel industry since it launched back in 1996. Fast forward to almost two decades later, Under Armour has proven to be a tough competitor to its rivals such as Nike, Adidas, and Columbia Sportswear. This company has built up its magnification at a vigorous pace and made substantial
Under Armour is based in Baltimore, Maryland. Under Armour is known for their athletic Wear for men, woman and kids, as well as athletic shoes. They are particularly known for their moisture wicking athletic wear.Recently more woman are starting to purchase Unde Armour items for going to the gym, competing in a race or just for their active lifestyle. With this division of Under Armour starting to grow they need a plan on how to keep that going on the upside.Since Under Armour already has established
SWOT Analysis Strengths Under Armour’s initial public offering was filed in 2005, offering 12,124,000 shares at $13 per share. Since then the company’s IPO has sky-rocketed and reached a total offer amount of $157,612,000, which is extremely larger than an average companies IPO. A key strength of the company is its continuous growth. Since 2005 when the company went public. Since then its profits have reached a high of 20% annually and passing the 3 billion mark. The company’s endorsements have
Under Armour is an apparel company that has in a short period of time become one of the biggest sporting apparel companies in the world. This paper will describe the history, mission and vision statements, and the evaluation of the internal and external factors of Under Armour. With all of the success that Under Armour has had there’s still some problems that Under Armour needs to address when it comes to reaching out to the women’s market and also venturing out internationally. With all the success
Under Armour is one of the leading competitors in the sports apparel market. It was founded in 1966 by Kevin Plank, the special teams captain of the University of Maryland football team. He set off to make a more breathable athletic shirt after he noticed that his cotton T-shirts were always sweaty following football practices. After graduation, he made a prototype and sent it to all of his teammates from Maryland and his NFL friends. With their feedback, Plank was able to perfect his moisture-wicking
analysis for Under Armour, reveals that this company needs to work on their product quality, R&D, and technological knowhow. The strengths of this company as stated above rely heavily on their core competencies in their product line strategy, sports marketing, and retail marketing. They have a huge head start in the business by their athletic connections, family based hiring for the board members, and quick action straight into the foreign markets when they first started out. Under Armour, has a considerable
Patrick Klir GBA 490 – 321 Written Case Study 02/16/2015 Under Armour Case Study “Challenging Nike in Sports Apparel” Table of Contents Executive Summary……………………………………………………...………………3 Dominate Economic Characteristics………………………………………………..…..4 PESTEL Analysis………………………………………...………………………………5 Five Forces Analysis……………………………………………………………………..6 Drivers of Change in the Industry………………………………………………………7 Current Strategy…………………………………….…………………………………...8 SWOT Analysis……………………………………...…………………………………
Both Nike and Under Armour share a similar goal. They market their product through giving endorsements to athletes. Nike endorses a huge amount of people from the NFL and famous basketball players like LeBron James. Similarly Under Armour has endorsed and signed deals with renowned athletes such as Tom Brady. Secondly Both companies focus their target at athletes. Parker used athletes to conduct a “rigorous study in the service of making the perfect sneaker, he famously cooked up shoe soles using