Under Armour, the popular sports apparel and footwear company, has become a household name for athletes and fitness enthusiasts worldwide. The brand was founded in 1996 by Kevin Plank, a former University of Maryland football player who was tired of sweaty cotton shirts and wanted to create something better. Kevin Plank remains the executive chairman of Under Armour and maintains significant ownership of the company he founded, though it is now publicly traded on the New York Stock Exchange.
The Baltimore-based company has grown from Plank’s initial invention of moisture-wicking performance shirts to a global brand offering a wide range of athletic clothing, shoes, and accessories. While Plank stepped down as CEO in 2019, he continues to play a key role in the company’s strategic direction. Under Armour’s current president and CEO is Stephanie Linnartz, who joined the company in 2023 to help guide its next phase of growth and innovation.
Key Takeaways
- Kevin Plank founded Under Armour in 1996 and remains executive chairman with significant ownership stake.
- Under Armour is a publicly traded company headquartered in Baltimore, Maryland, meaning ownership is shared among shareholders.
- The company has evolved from Plank’s initial moisture-wicking shirts to a global sportswear and footwear brand under new leadership.
History of Under Armour
Under Armour’s journey began with a simple idea to create better athletic wear and grew into a global brand known for innovation and quality. The company’s path from a basement startup to an international sportswear giant reflects American entrepreneurship at its finest.
Kevin Plank’s Vision
Under Armour’s story started in 1995 when Kevin Plank, a former special teams captain for the University of Maryland football team, became frustrated with sweat-soaked cotton shirts during practices. This frustration sparked an idea for a moisture-wicking compression shirt that would keep athletes dry during intense workouts.
Working from his grandmother’s basement in Washington D.C., Plank created his first prototype using synthetic fabrics. He tested his designs with his former Maryland teammates who had gone on to play professionally.
With $40,000 in savings and credit card debt, Plank officially incorporated Under Armour on September 25, 1996. His first major breakthrough came when he sold shirts to Georgia Tech and other college football programs, proving the product’s value to athletes.
Growth and Expansion
Under Armour’s popularity exploded in 1999 when the brand was featured in the football movie “Any Given Sunday.” This exposure led to the company’s first print advertisement in ESPN The Magazine, significantly boosting brand awareness among athletes and consumers.
By 2000, Under Armour became the outfitter for the XFL football league, marking its first major league partnership. The company continued to innovate beyond compression wear, introducing a diverse product line including:
- HeatGear® (for hot conditions)
- ColdGear® (for cold conditions)
- AllSeasonGear® (for between extremes)
A significant milestone occurred on November 17, 2005, when Under Armour went public on NASDAQ under the symbol “UARM” (later changed to “UA”). The IPO was remarkably successful, becoming the first U.S.-based initial public offering in five years to double on its first day.
Innovation Through Time
Under Armour has consistently prioritized technological advancement in athletic apparel. The company invested heavily in research and development, creating fabrics that enhance athletic performance through moisture management, temperature regulation, and compression benefits.
In 2006, Under Armour entered the footwear market with football cleats, later expanding to running shoes, basketball sneakers, and training footwear. Each product maintained the brand’s focus on performance enhancement.
The company embraced digital technology by acquiring fitness apps like MapMyFitness, MyFitnessPal, and Endomondo between 2013 and 2015. These acquisitions created a connected fitness platform allowing users to track workouts and nutrition.
Under Armour’s Brand Houses (retail stores) opened globally, showcasing the full range of products in immersive environments designed to highlight performance benefits. The brand continued partnering with elite athletes like Steph Curry, Tom Brady, and Lindsey Vonn to develop signature product lines.
Ownership Structure
Under Armour’s ownership structure combines significant founder influence with institutional investor participation. The company maintains a dual-class stock system that affects how control is distributed among shareholders.
Founder’s Influence
Kevin Plank, who started Under Armour in 1996, remains a major force in the company’s ownership structure. As the founder, he holds approximately 9.16% of outstanding shares according to recent data.
What makes Plank’s ownership particularly powerful isn’t just the number of shares, but the type of shares he owns. He maintains significant voting control through his ownership of Class B shares, which carry much more voting power than the standard Class A shares available to most investors.
This arrangement allows Plank to maintain substantial influence over company decisions even without owning a majority of the total stock. His position gives him considerable say in major corporate decisions and the strategic direction of Under Armour.
Shareholders and Voting Rights
BDT Capital Partners stands as Under Armour’s largest shareholder with approximately 28.69% ownership. Other significant institutional investors include BlackRock Advisors (15.18%) and Fidelity Management & Research (15.01%).
Under Armour’s corporate governance is structured around a dual-class stock system:
- Class A shares: One vote per share, traded publicly
- Class B shares: Ten votes per share, primarily held by Plank
This voting structure gives certain shareholders (particularly Plank) disproportionate control compared to their economic stake in the company. The Board of Directors oversees corporate governance with guidelines that provide structure to business operations.
The dual-class system has advantages for long-term strategic control but sometimes raises questions from investors about equal representation in company decisions.
Leadership
Under Armour’s leadership structure combines strong executive management with board oversight to guide the company’s strategic direction and growth.
CEO and Executive Team
Kevin Plank returned to the role of President and Chief Executive Officer of Under Armour on April 1, 2024. This marked a significant leadership transition for the company.
Before this change, Stephanie Linnartz had served as the CEO. Plank is not just an executive but also the original founder of Under Armour, bringing deep institutional knowledge to his leadership role.
The executive team at Under Armour includes several key positions that support the CEO:
- Chief Financial Officer
- Chief Product Officer
- Chief Marketing Officer
- Chief Operating Officer
These leaders work together to implement the company’s strategic vision across different business functions like product development, marketing, and operations.
Board of Directors’ Role
Under Armour’s Board of Directors provides governance and strategic guidance for the company. The board underwent changes when Mohamed A. El-Erian assumed the role of non-executive chair after previously serving as lead director since 2020.
Kevin Plank previously held the position of Executive Chairman before returning to his CEO role. As founder, he maintains significant influence in the company’s direction.
The board’s responsibilities include:
- Overseeing corporate strategy
- Monitoring company performance
- Ensuring proper governance practices
- Representing shareholder interests
Board members bring diverse expertise from industries like finance, retail, and sports to help guide Under Armour’s future growth and development in the competitive sportswear market.
Product Lines and Innovation
Under Armour has built its reputation on cutting-edge products that enhance athletic performance. The company continually pushes boundaries with technology-driven apparel, footwear, and accessories designed to help athletes perform their best.
Athletic Apparel Breakthroughs
Under Armour revolutionized athletic clothing with its moisture-wicking fabrics. The brand’s first breakthrough was the HeatGear® compression shirt, designed to keep athletes cool and dry during intense workouts.
Their ColdGear® technology later provided insulation without bulk for cold-weather training. This dual-season approach helped establish Under Armour as a year-round performance brand.
More recently, they’ve developed UA Rush™ fabric, which recycles body heat into infrared energy to improve endurance and strength. This technology represents their commitment to human performance enhancement.
The company is also focusing on sustainability with eco-friendly materials while maintaining their performance standards. Under Armour has streamlined their product offerings by 25% to focus on core innovations.
Footwear Development
Under Armour entered the footwear market to create a complete head-to-toe performance system. Their running shoes gained recognition with the introduction of HOVR™ technology, providing energy return and cushioning.
The groundbreaking UA Flow technology marked a significant advancement in their footwear line. Developed in partnership with Dow, this lightweight, long-lasting shoe technology eliminates the need for rubber outsoles.
Basketball shoes like the Curry line, created with NBA star Stephen Curry, have helped establish Under Armour in the competitive performance footwear space. These shoes feature technologies specific to quick cuts and movements needed on the court.
Their training shoes incorporate stabilizing features for multi-directional movement during cross-training and gym workouts. Under Armour continues to invest in footwear innovation as a key growth area.
Accessories for Peak Performance
Under Armour’s accessories complement their apparel and footwear to create complete performance solutions. Their backpacks and gym bags incorporate water-resistant materials and specialized compartments for versatility and durability.
The company produces performance-enhancing gloves for various sports, including football, baseball, and golf. These gloves feature grip-enhancing technologies and weather-appropriate materials.
Under Armour’s headwear includes moisture-wicking caps, cold-weather beanies, and sports-specific helmets and protective gear. Many incorporate the same technical fabrics as their apparel line.
Their fitness tracking technology, previously centered around the UA Record app ecosystem, showed their commitment to holistic performance measurement. Under Armour continues developing digital accessories to help athletes track and improve their performance.
The company also produces sport-specific equipment like mouthguards, arm sleeves, and compression accessories designed to support muscles and improve blood flow during activity.
Brand and Marketing
Under Armour has built its reputation through strategic marketing and strong brand identity. The company connects with customers through athlete partnerships, innovative engagement strategies, and global expansion efforts.
Athlete Partnerships and Sponsorships
Under Armour’s marketing heavily relies on partnerships with high-profile athletes. The company has signed deals with sports stars like Tom Brady, who uniquely received equity in the company as part of his endorsement agreement. This strategy helps Under Armour compete with larger brands by creating authentic connections with athletes.
The brand typically seeks athletes who embody their underdog spirit and performance-focused values. These partnerships extend beyond simple endorsements to include signature product lines and collaborative marketing campaigns.
Under Armour also sponsors various teams and sporting events to increase visibility. College athletic departments, professional sports teams, and fitness competitions all display the iconic UA logo, reinforcing the brand’s presence in competitive sports environments.
Customer Engagement Strategies
Under Armour engages customers through both traditional and digital channels. Their marketing emphasizes product innovation and performance benefits rather than just style.
The company uses social media platforms to share athlete stories, fitness tips, and product information. This creates a community feeling among their customer base of fitness enthusiasts and athletes.
Under Armour’s mobile apps and connected fitness platforms help maintain ongoing relationships with customers. These digital tools provide workout tracking, nutrition advice, and personalized recommendations based on user activity.
In-store experiences are designed to be interactive, with product testing opportunities and knowledgeable staff who can explain technical features of their sportswear and footwear.
Global Brand Presence
Under Armour has expanded from its Baltimore headquarters to become an international brand. The company distributes athletic apparel, footwear, and accessories worldwide through various channels.
Key markets include North America, Europe, Asia-Pacific, and Latin America. Each region receives tailored marketing campaigns that respect local sports preferences and cultural differences.
Under Armour’s international strategy includes:
- Regional flagship stores in major cities
- Local athlete endorsements relevant to each market
- Sponsorship of popular regional sports teams
- E-commerce platforms adapted for local shopping preferences
The brand maintains consistent messaging about performance and innovation across all markets, helping create a unified global identity while respecting regional differences in sports culture.
Corporate Social Responsibility and Community Engagement
Under Armour goes beyond making athletic wear by investing in communities and sustainable practices. The company focuses on creating positive social impact while working to reduce its environmental footprint.
Community Programs and Impact
Under Armour has made a bold commitment to create opportunities for millions of youth to engage in sports by 2030. They’re working to break down barriers for kids who want to participate in athletics but face obstacles.
The company is deeply rooted in Baltimore, where its headquarters are located. Through various initiatives, Under Armour supports local communities with programs focused on education, health, and wellness.
Kevin Ross, SVP and EMEA Managing Director at Under Armour, emphasizes that for the brand, it’s about more than just the game. The company leverages sports as a platform for creating meaningful social impact.
Their “UA Movement” initiatives help young people develop life skills through sports participation.
Sustainability Initiatives
Under Armour is actively working to reduce the environmental footprint of both their products and operations. This commitment spans their entire supply chain.
The company has implemented sustainable practices in product design, manufacturing, and packaging. They’re exploring innovative materials and production methods that minimize waste and energy use.
Beyond environmental concerns, Under Armour is passionate about creating an inclusive culture for their global team. They focus on protecting the rights and well-being of workers throughout their supply chain.
The company regularly communicates sustainability goals and progress through their Investor Relations channels, providing transparency about their environmental and social commitments.
Investor Relations and Financial Performance
Under Armour maintains robust investor relations to keep shareholders informed about the company’s financial health. The company provides detailed financial reports and hosts regular meetings, while its stock performance reflects market conditions and company strategies.
Annual Reports and Shareholder Meetings
Under Armour communicates with investors through various channels to maintain transparency. The company’s Investor Relations department provides regular updates on financial performance and corporate governance.
Shareholders can access important financial documents through Under Armour’s investor website. This includes quarterly earnings reports, annual reports, and SEC filings that detail the company’s fiscal health.
Under Armour typically holds annual shareholder meetings where company executives present achievements, challenges, and future strategies. These meetings give investors opportunities to ask questions directly to leadership.
The company also issues press releases to announce significant business developments, leadership changes, and strategic initiatives that might affect investor interests.
Stock Performance and Analysis
Under Armour stock trades on the New York Stock Exchange under two symbols: UAA and UA. This dual-class structure gives different voting rights to different shareholders.
The company’s stock performance has experienced fluctuations based on quarterly earnings, market trends, and competitive pressures in the athletic apparel industry. Analysts closely monitor Under Armour’s revenue growth, profit margins, and market share.
In the third quarter of fiscal year 2025, Under Armour reported positive financial results that led to raising its outlook for the year. This demonstrates the company’s ability to adapt to changing market conditions.
Financial analysts evaluate Under Armour’s performance against competitors like Nike and Adidas to assess its market position and growth potential.
Supply Chain and Manufacturing
Under Armour manages a complex global supply chain to deliver high-quality athletic apparel to customers. The company has evolved its approach over time, with a focus on efficiency and quality control.
Quality Control and Supplier Relations
Under Armour maintains strict standards for its supplier relationships to ensure product quality meets customer expectations. The company works closely with manufacturing partners around the world to maintain consistency across their product lines.
Quality assurance teams regularly visit manufacturing facilities to inspect materials and finished products. This hands-on approach helps Under Armour maintain its reputation for durable, high-performance gear.
In recent years, the company has appointed experienced executives to oversee these efforts, including Shawn Curran as Chief Supply Chain Officer in 2023. Curran brought over three decades of experience from Gap Inc. to help strengthen Under Armour’s supply chain operations.
Manufacturing Locations and Processes
Under Armour produces its innovative products through a network of contract manufacturers across Asia, Latin America, and other regions. This global approach allows the company to optimize costs while maintaining access to specialized manufacturing expertise.
The company has been working on a multiyear distribution logistics initiative to streamline operations. This strategy, announced by CEO Kevin Plank, aims to reduce costs and increase speed to market.
Manufacturing processes include:
- Advanced fabric cutting techniques
- Precision stitching for durability
- Innovative material treatments for moisture-wicking properties
- Quality testing under simulated wear conditions
Under Armour continues to invest in supply chain improvements to better compete in the global market for athletic apparel and equipment.
Future Outlook and Direction
Under Armour is setting new directions under returning CEO Kevin Plank. The company has outlined clear strategies focusing on product innovation, brand strengthening, and commercial growth to position itself in the competitive athletic apparel market.
Strategic Goals
Under Armour recently shared its strategic vision during an investor meeting where it reiterated its fiscal 2025 outlook. The company is embracing its identity as a “global Sports House” capable of equipping athletes from head to toe.
Kevin Plank, who returned as President and CEO on April 1, 2024, is focusing on:
- Strengthening core athletic performance apparel
- Expanding footwear innovation
- Rebuilding brand connection with consumers
- Improving direct-to-consumer experiences
The leadership transition marks a significant shift in Under Armour’s approach. Plank seems determined to restore the company’s reputation for innovation and athletic performance that originally made the brand successful.
Emerging Markets and Opportunities
Under Armour is looking beyond traditional markets to fuel future growth. The company recognizes the potential in emerging economies where rising middle classes are increasingly interested in premium athletic wear.
Key opportunities include:
Geographic Expansion:
- Greater penetration in Asia-Pacific regions
- Strengthened presence in Latin American markets
- Strategic partnerships with local retailers in new territories
Digital Transformation:
The brand is investing heavily in e-commerce capabilities and digital experiences. This includes improved mobile shopping, personalized recommendations, and integrated fitness tracking.
Women’s athletic wear represents another significant growth category. Under Armour is designing specialized products addressing female athletes’ needs while expanding its overall product range.
Trends in Sports and Fitness
Under Armour is positioning itself to capitalize on evolving fitness trends. The company is developing products that align with changing consumer behaviors and preferences in sports.
The brand is embracing:
- Performance Technology: Continued innovation in moisture-wicking, temperature regulation, and lightweight materials
- Athleisure Movement: Blending performance with everyday wear
- Connected Fitness: Integrating smart technology into apparel and footwear
Kevin Plank appears delighted to be back in the top spot. He is ready to guide the brand through these evolving trends. His leadership aims to reconnect Under Armour with its performance roots while embracing new directions.
Sustainability is also becoming central to the company’s product development. This includes using recycled materials and reducing environmental impact throughout the supply chain.
