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Case Details |
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Case Code: LDEN126
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| Case Length: 11 Pages |
| Period: 1996-2016 |
| Pub Date: 2017 |
| Teaching Note: Available |
| Price: Rs.400 |
| Organization : Under Armour |
Industry : Sports Apparel
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| Countries : US |
| Themes:
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Kevin Plank and the Rise of Under Armour |
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INTRODUCTION |
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In 2010, Forbes had adjudged Kevin Plank (Plank), founder and CEO of the US-based sports apparel maker Under Armour (UA), as one of the 15 most powerful American chief executives aged under 40. Plank was also ranked 14 in the 40 under 40 list of Fortune . Plank, a footballer by passion and businessman by profession, had founded UA in 1996 with the groundbreaking idea of a sweat-wicking T-shirt that shook the sports apparel industry. The uniqueness of the product and the charisma of Plank earned UA early success.
Through strategic growth drivers, viz. the R&D, innovation, aggressive marketing, and strategic alliances, UA under Plank’s leadership, created a robust brand out of nowhere in fifteen years. In 2005, UA made a sensational debut on the NYSE, as its stock appreciated by at least 100% during its very first day of trading. The shares opened at $31, which was more than double its $13 price. UA raised $157 million through the IPO..
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