Interview, Fireside Chat
Kevin Plank: Building the Ethos of Under Armour
- CEO and Chairman Kevin Plank expects to enter his 14th year in leadership in November and projects the company will reach its 23rd year of business.
- The brand plans to transform from a focus on short-sleeve shirts to long-sleeve apparel, footwear, and cold-weather categories while remaining complementary to the market as a global competitor.
- Plank maintains a belief that he has sufficient runway to build the company beyond any acquisition offer, intending to sell only if an external bid exceeds his projected internal value, while acknowledging future peaks and valleys require resilience.
- The business model aims to evolve into a repeatable process and culture independent of a single individual to ensure leadership succession success.
- Digital media spend is anticipated to become critical through a connected fitness ecosystem, supported by over 240 million app downloads and data from billions of logged foods and workouts.
- Brand vision is shifting toward delivering consumer benefits perceived as making individuals better, underpinned by the collected data ecosystem.
- Marketing strategy prioritizes product excellence and storytelling over reliance on high-follower influencers, recalling a failed 2012 investment attempt with Rory McIlroy that resulted in a loss to Nike.
- Historical endorsement decisions included a 10-year deal with Jordan Spieth signed in 2015 prior to his first major win, a 15-to-1 betting ticket purchased in 2015 for Spieth to win, and an early Under Armour endorsement for Stephen Curry before his first All-Star selection.
- The company intends to constantly evolve its culture to avoid becoming a "museum piece" and remain a proactive, living brand.