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Under Armour
From Wikipedia, the free encyclopedia
| Under Armour Inc. | |
|---|---|
 |
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| Type | Public (NYSE:UA) |
| Founded | 1996 |
| Headquarters | Baltimore, Maryland |
| Products | Clothing & Accessories |
| Revenue |  $430.7 million USD (2006) |
| Net income | $39.0 million USD (2006) |
| Employees | 979 (2006) |
| Website | www.underarmour.com |
Under Armour NYSE: UA is a brand of clothing headquartered in Baltimore, Maryland designed for use in sports. It was originally created to be worn underneath uniforms (like baseball or basketball jerseys) or pads (like football, hockey or lacrosse shoulder pads), but now also manufactures clothes such as hooded sweatshirts, regular t-shirts, sweat pants, etc. Under Armour led the trend of form-fitting, moisture-wicking performance apparel which was soon imitated by Nike, with their Dri-FIT Pro line, and by Reebok, with their NFL Equipment line.[1] In June of 2006, Under Armour released a brand of football cleats using the slogan "Click-Clack." Many soldiers currently serving in Iraq are known to wear Under Armour because it protects them from the intense heat. Recently though, parts of the military have banned Under Armour because polyester fuses to the skin when exposed to flame.[2]
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The company was founded in 1996 by former Maryland football player Kevin Plank. Remembering how he had to change cotton T-shirts because they were soaked with sweat from many practices, he developed a prototype of fiber designed to keep a player clean and light during intense practices and games. He quickly persuaded two college teams, both located in warm climates, to purchase his gear: Georgia Tech, located in frequently hot and humid Atlanta, and Arizona State, in the searing desert of the Phoenix area. In particular, Under Armour caught on quickly at Arizona State, spearheaded by the efforts of the equipment manager for ASU athletics. The NFL's Atlanta Falcons shortly followed suit. Since then, the number of teams using Under Armour gear has increased to include the vast majority of NCAA Division I-A football programs. The company also makes clothing for many other sports.
Under Armour's corporate headquarters is located in Baltimore. In 2003, the company began running ads with a football "warrior" theme and the tag line "We must protect this house!" (The company continues to use this tag line to this day.) In 2004, Under Armour designed the uniforms for the Maryland Terrapins football team, and ran a commercial featuring Terps coach Ralph Friedgen.
On November 18, 2005, Under Armour released its IPO. The stock had the second highest increase in share price ever for the first day of trading, opening at $13, and doubling to close substantially higher.
In December 2005, Under Armour announced a five-year deal to be the official outfitter for all of Auburn University's athletic teams. In March, 2006, a similar deal was announced with the Texas Tech's football team and Southlake Carroll High School football team. Under Armour is also the official outfitter of The University of North Texas as of the 2007-2008 season.
In August 2006, Under Armour joined Nike and Adidas as the only other authorized footwear suppliers for the National Football League.
In February 2007, Under Armour and the Chicago Cubs announced a deal that would allow Under Armour to advertise their logo on the green outfield doors tucked into the ivy.
"It's the first time the Cubs have allowed any ad or sign on the outfield doors. Jay Blunk, director of marketing and sales for the team, said the Cubs have been approached by other companies wanting to use the space. He said Under Armour was the 'right fit.'"
In April 2007, the University of South Carolina penned a six-year football-only contract worth an approximated $10.8 million. This deal makes Under Armour the official outfitter of the University of South Carolina's football program, providing apparel, uniforms, and footwear.
The Under Armour name is now stretching overseas. With a European headquarters in Amsterdam, Under Armour has a strong market presence in the UK, Canada, Europe, Japan, Australia, New Zealand, and South Africa. This mostly due to the use by rugby players, who often have to play in the cold and the heat as it is a multi-season sport played in both hemispheres.
In May 2007, at the latest shareholders meeting, CEO Kevin Plank announced a new marketing strategy called "Team Girl" targeted towards female athletes. He also announced plans to expand their footwear division even further in 2008.
- Dion Phaneuf
- Brandon Jacobs
- Jeremy Bloom
- Lance Berkman
- Vernon Davis
- Jeffrey Baltimore II
- Jeff Francoeur
- A.J. Hawk
- Ryan Howard
- Julius Jones
- Ray Lewis
- Nick Markakis
- Kimmie Meissner
- Eric Ogbogu (AKA "Big E")
- Cat Osterman
- David Pollack
- Alfonso Soriano
- Steve Spurrier
- Joe Thomas
- Tommy Tuberville
- Jonathan Vilma
- Patrick Willis
- Mike Vrabel
- Bob Sanders
- ^ Baltimore Business Journal Analysts: Brand crossover risky for Under Armour "Under Armour's shirts, shorts and accessories are made with moisture-wicking fabrics that pull sweat away from the body. They've become the industry standard even as Nike, Reebok and other companies have tried desperately to overtake Under Armour as the..."
- ^ Holt, Stephen (April 10, 2006). Marines Ban Polyester Clothing In Iraq. Marine Corps News. Retrieved on 2007-11-30.
- UnderArmour.com Official website
- UABiz.com - The Business of Under Armour