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Continued growth at Under Armour

Chief executive Kevin Plank is excited about the company’s digital future.

Under Armour’s revenues for the first quarter of 2015 rose by 25 per cent compared with the same period last year to $805 million. This was the company’s 20th consecutive quarter of 20 per cent-plus gains.

During the first quarter, the US company’s footwear revenues increased by 41 per cent to $161 million.

This was mainly due to sales of its SpeedForm running shoes, as well as the introduction of the Curry One basketball shoe. International revenues, which represented 12 per cent of total net figures for the first quarter of the year, grew by 74 per cent year-over-year.

While chief executive Kevin Plank views the growth as a great start to 2015, he is reportedly more excited about the digital platform the company is building.

“Within our Connected Fitness platform, we closed our two acquisitions of Endomondo and MyFitnessPal to create the world's largest digital health and fitness community,” he said. “We have already added over 10 million unique registered users to our platform since our initial February announcement, bringing the total Connected Fitness community to over 130 million unique registered users.

“We opened a 30,000 square-foot Brand House store on the Magnificent Mile in Chicago, while also debuting our first stores in Brazil and the Middle East which contributed to the 74 per cent international growth for the quarter,” he continued. “We experienced tremendous demand for our new SpeedForm Gemini running shoe and the Curry One basketball shoe, with even bigger things to come in these categories.”

Publishing Data

This article was originally published on page 4 of the June 2015 issue of SATRA Bulletin.

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