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Under Armour expects to boost revenue

Chief executive Kevin Plank anticipates revenue doubling within three years.

Under Armour – said to be the number two athletic wear producer in the USA after Nike – has announced plans to boost its sales in the near future. At the company's recent investor day held in Baltimore, chief executive Kevin Plank announced that he expects revenue to double by 2018 to $7.5 billion. If achieved, this would be an impressive 25 per cent annual growth over Under Armour’s anticipated sales of $3.84 billion for this year, and an acceleration from Mr Plank's earlier stated goal to reach $10 billion by 2020.

This revised target is supported by the news that Under Armour’s sales figures have increased by 25 per cent or more in each of the last eight quarters when compared with the same period the previous year.

Mr Plank also reported that he views the company’s women's business to be potentially as large – if not bigger – than its men's business. Under Armour has been making efforts to expand sales to its female audience with an ‘I Will What I Want’ marketing campaign that features former supermodel Gisele Bündchen and ballerina Misty Copeland.

Publishing Data

This article was originally published on page 3 of the November 2015 issue of SATRA Bulletin.

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