Today, we associate Under Armour with all kinds of athletic apparel and footwear, but the company stemmed from the invention of a single product; a sweat-tolerant t-shirt. The company grew from loan revenue to a multi-billion net worth in less than three decades. This article crunches up the numbers and figures!
Under Armour was founded by Kevin Plank on 25th September 1996. Its growth rate surpassed some well-known sports and athleisure brands like Adidas, growing from his grandmother's townhouse basement to having offices in some of the largest cities worldwide. Though the company faced some financial pitfalls toward the end of the last decade, a revamp in leadership and strategic management has seen its net worth improve significantly.
|Name||Under Armour, Inc.|
|Industry||Textile, sports wear, sports equipment|
|Employees||17,500 (December 2021)|
|Socials||Instagram, Twitter, YouTube, LinkedIn|
Under Armour's net worth 2022
According to Forbes, the company is valued at $4.3 billion. It is the 2585th most valuable company by market capitalization. Their highest market value was in 2015, when they were worth $20.37 billion.
The American sporting equipment manufacturer made $17,000 in its first year from the sale of HeatGear shirts. The company got its big break three years after making $750,000 from ad sales following its first movie commission.
Under Armour CEO's net worth
Colin Browne, who has been serving as the COO since 2020, succeeded Patrik Frisk as CEO of the brand on an interim basis on 1st June 2022. The company employed him in 2016 as the Chief Supply Chain Officer. His net worth is unknown, but the earnings from the new positions are very lucrative.
In this position, he shall earn a base salary of $1.3 million, stocks worth $10 million, bonuses and equities of up to $3.9 million, and compensations of approximately $273,000. His yearly income shall be at least $15 million.
Who is the owner of Under Armour?
Kevin Plank founded the American company as the University of Maryland football team captain in 1996. The idea was born of the need to stay dry and comfortable during games, which basic cotton shirts failed to do. The company's origins involved lots of trials and errors, from the name and the spelling to the fabric used.
He served as the company's CEO until 2019, when he stepped down, and Patrik Frisk took over. By the time he was retiring, the company was generating over $5 billion in annual revenue. The billionaire currently serves as the executive chairman and in other advisory roles.
Under Armour's total revenue
The company's income from investments is approximately $5.683 billion. Most of its sales come from clothes, with the remainder from footwear, sporting gear, and accessories. The current revenue is at its highest in the last fifteen years.
Under Armour's total assets
According to their annual report results, the company's resources are valued at $4.991 billion. In the last five years, the company's assets were highest in 2020, valued at $5.02 billion, and lowest in 2018, when they were worth $4.24 billion. It is among the top five best-performing companies on the NYSE among those in the same industry.
Who owns the most Under Armour stock?
The Baltimore-based company's Executive Chairman, Kevin Plank, is the largest individual shareholder, holding approximately $70 million in shares. Individuals with senior positions own 15% of the company. The general public owns 12.8%, and the government owns 0.04%.
With most of the company's common stock being in institutions, its risks and benefits are balanced. This type of ownership also improves credibility in the investment sphere. The Vanguard Group, Inc. is the second largest shareholder owning 10% of common stock.
What country sells the most Under Armour products?
The brand's global headquarters are in Baltimore, Maryland, in the US. Satellite branches are in several global cities, including Amsterdam, Shanghai, Guangzhou, San Francisco, Hong Kong, Portland, Pittsburgh, New York City, Panama City, Paris, and Toronto.
North America -the United States and Canada- accounted for 67% of their total revenue in 2022. The product catalog consists of clothes, footwear, accessories, and toiletries, with the best seller item being apparel, followed by brand shoes.
How big of a brand is Under Armour?
The American brand is one of the fastest-emerging companies in the apparel industry. Just fifteen years after its inception, the company surpassed $1 billion in revenue in 2010. The total assets revenue surpassed the $1 billion mark in 2012. As of December 2022, the brand is worth $4.3 billion.
Who is more prominent, Under Armour or Nike?
The two companies have identical business models and compete with each other to seize the same customer base, but they differ significantly in scale. Having existed for much longer, Nike has grown its annual revenue to almost seven times more than Under Armour. Despite competing with the world's largest footwear company, the sports apparel manufacturer had a faster growth rate in comparison.
Who is more prominent, Under Armour or Adidas?
Adidas is ranked 58th among the global top 100 brands, as rated by its customers based on product quality, customer service, and pricing. Its current market cap is $5.62 billion. The Maryland apparel manufacturer is ranked 231 with a market cap of $9.34 billion. Like many other competitors, the German brand Adidas has had the advantage of being older, but the American brand has grown much faster in a shorter period.
Like most companies, Under Armour had humble beginnings but grew into a sports gear giant by implementing strategies to strengthen the brand and lower production costs. Under Armour's net worth is improving, and future projections look promising.
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Source: Sports Brief News