who owns under armour sportswear

Who Owns Under Armour ?

Under Armour is a well-known sportswear brand that produces high-quality athletic products, including clothing, footwear, and accessories. The brand has made its mark in the athletic world with its innovative designs and top-notch performance gear. However, many people are curious about who owns Under Armour and how the brand came into existence. In this article, we will explore the history of Under Armour and its ownership.

The History of Under Armour

Under Armour was founded in 1996 by Kevin Plank, who was a former football player for the University of Maryland. Planks inspiration for Under Armour came from his experience as a player, where he felt that the cotton t-shirts he wore became too heavy and uncomfortable when he sweat. To address this issue, Plank developed a moisture-wicking fabric that kept athletes dry and comfortable during games and workouts. The success of this product led to the creation of Under Armour, which has since become a leading gymwear brand.

Under Armour Ownership

As of 2021, Under Armour is a publicly-traded company with a market capitalization of over $10 billion. However, the brands ownership has undergone several changes throughout its history. Here are some of the key ownership changes that Under Armour has experienced:

1. Kevin Plank C Under Armour founder Kevin Plank served as the companys CEO from its inception in 1996 until 2019. During his tenure as CEO, Plank oversaw the companys growth from a small startup to a global gymwear brand.

2. Patrik Frisk C In 2019, Patrik Frisk took over as CEO of Under Armour. Frisk had previously served as the president and CEO of Aldo Group, a global footwear and accessories retailer.

3. Stephen Curry C NBA superstar Stephen Curry has been an Under Armour brand ambassador since 2013. In 2015, Under Armour launched a line of footwear and apparel in partnership with Curry, which has been one of the companys most successful collaborations.

4. Institutional Investors C As a publicly-traded company, Under Armour is owned by a variety of institutional investors, including asset management firms, mutual funds, and pension funds.

5. Kevin A. Plank Trust C In 2021, it was reported that a trust set up by Under Armour founder Kevin Plank owned approximately 15% of the companys outstanding shares.

Under Armours Future

Under Armour has faced some challenges in recent years, including declining sales and a decline in the stock price. However, the company has taken steps to reposition itself for future growth. In 2020, Under Armour announced a new strategy called The Only Way Is Through, which involves a focus on customer needs, a streamlined product lineup, and a digital-first approach to marketing and sales. Additionally, the company has announced plans to expand its international footprint, particularly in China.

Under Armours ownership has evolved over time, but the brands commitment to innovation and top-quality performance gear has remained constant. With a new CEO at the helm and a focused strategy for the future, Under Armour is poised to continue making its mark in the sportswear industry. Whether youre a professional athlete or a weekend warrior, Under Armour has the gear you need to perform at your best.

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