Under Armour set on winning athleticwear crown from Nike
Stephen Curry doesn’t have the same skill set as Michael Jordan on the court, but Under Armour is counting on the Golden State Warrior all-star to help the brand achieve a similar level of success off the court that “His Airness” has done for Nike.
There’s no doubt about it. Under Armour is on a winning streak. The company posted an increase of revenues of nearly 31 percent in the fourth quarter while net income was up eight cents per share.
At last month’s National Retail Federation Big Show, Under Armour CEO Kevin Plank said the company planned to open 200 new stores around the globe this year.
According to an article by Brian Sozzi on TheStreet, Under Armour is likely to open stores under a variety of formats, including factory stores, “brand houses” featuring the company’s best products, as well as store-within-a-store locations inside of Dick’s Sporting Goods. Dick’s is also working on a new Under Armour shop design that has not yet debuted.
Late last year, the founder and former CEO of Lululemon, Chip Wilson, told Bloomberg that he considered acquiring Under Armour several years back. More recently, Under Armour was rumored to be considering an offer for the yoga-inspired Lululemon business.
- Under Armour Moves to Control Own Future by Opening 200 New Stores in 2016 – TheStreet
- Lululemon Founder Says He Considered Acquiring Under Armour – Bloomberg
- Stephen Curry helps Under Armour’s profits soar – CBS Moneywatch
- Is Under Armour Copying Nike’s Playbook? – Huffington Post
How important do you think company-owned stores are to Under Armour’s future prospects? Would a bid for Lululemon or another complementary retail brand make sense for Under Armour?