.Website Founder Kevin Plank Year founded 1996 Chief Executive Officer (CEO) Patrik Frisk Executive Chairman Kevin Plank Headquarters Baltimore, Maryland, United States Type of corporation Public Revenues (2019) $5.27 billion Key products/ services Footwear, sportswear, clothing, toiletries Key competitors Nike, Adidas, Reebok, ASICS, New Balance, PUMA, Vans, Fila, Puma, Skechers Under Armour’s Strengths Related: SWOT Analysis for Fabletics Name Under Armour, Inc. This SWOT analysis provides a strategies analysis of a company’s internal and external environments. In this article, we cover the SWOT analysis of Under Armour highlighting the company’s strengths, weaknesses, opportunities, and threats. In many market segments, it competes with names such as Nike and Adidas. These include names from activewear, footwear, apparel, and other related industries. These revenues resulted in $236.77 million in operating and $92.14 million in net income.Ĭurrently, Under Armour competes with various well-known brands globally. In 2019, Under Armour generated revenues of $5.27 billion. The company experienced growing revenues over the years due to its successful business model. This process allowed the company to raise $153 million in the capital, which helped it expand its business. Under Armour went public in November 2005 through an IPO. Under Armour also became the official outfitter for XFL. On top of that, it became a sponsor to various leagues and movies, which increased its reputation even further. However, the company started getting a boost from movies over the years. Under Armour grew its business primarily through word-of-mouth promotion initially. By 1997, the founder set up a factory in Ohio to increase its production. However, the company made these products in a small quantity. Soon, its competitors, Nike, Adidas, and Reebok also started offering similar products. Inspired by personal experience, the founder, Kevin Plank, came up with the idea for the product. Under Armour was one of the first companies to sell moisture-wicking apparel. The company also manufactures uniforms for American football, basketball, and soccer. However, it grew its product lines by offering athletic shoes, t-shirts, jackets, hoodies, pants, leggings, shorts, bras, face masks, accessories, and much more. The company initially offered limited products. Under Armour’s founder, Kevin Plank started the company from his grandmother’s basement. Its primary market is the US market, where it generates a substantial portion of its revenues. Under Armour currently has more than 350 stores, including both brand and factory houses. The company manufactures and offers sports and casual apparel along with footwear. Over the past years, the demand for athletic apparel has significantly risen (Strider).Originating in Washington, DC, in 1996, Under Armour is a leading provider of sports equipment. Threat of Substitution There is a high threat of substitute products. Stephen Curry and Tom Brady are among athletes whom Under Armour has signed to a multi-million dollar endorsements (Under Armour Roster). Studies have shown that many customers purchase brands due to brand recognition and association (Strider) this in turn has lead companies such as Nike, Adidas and Under Armour to invest heavily in athletic sponsorships and endorsements. Although the industry has several players, Under Armours ability to supply premium differentiating products helps maintain its competitiveness against lower-tier brands. In addition, with the recent surge in online shopping supplying affordable products that can be purchased online has become an emphasis. Under Armour’s entry in 1996 is the most recent American brand to gain significant market share yet regardless, they still remain significantly behind their competitors in the global market (Strider).īuyer Power In the athletic apparel and sneaker industry, there are several available substitutes creating a middle-tired buying power. 
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