Under Armour sales boosted in Asia and Europe
Sportswear specialist Under Armour has logged revenue in 2019 of over $5.25 billion (£4.1 billion) – an increase of 1.2 per cent compared to the previous year’s figures. Sales of the USA-based company’s footwear grew by 2.2 per cent to just under $1.1 billion (£852 million).
Although Under Armour’s sales in North America fell by 2.1 per cent to just under $3.7 billion (£2.9 billion), growth of 14.2 per cent was recorded in Asia and 5.1 per cent in Europe. Overall revenue from Asia totalled $636.3 million (£493.1 million), with $621.2 million (£481.4 million) being reported from its European operations.
Under Armour was founded in 1996 by 24-year-old American football player Kevin Plank. He began the business from his grandmother’s Washington DC basement, and initially drove the length of the east coast selling his products.
Mr Plank relinquished his role at Under Armour in January 2020, having served as chief executive since establishing the company. Patrik Frisk was appointed as CEO and president, He reports to Mr Plank, who is now executive chairman and brand chief.
The photograph above shows new CEO and president Patrik Frisk.
This article was originally published on page 2 of the April 2020 issue of SATRA Bulletin.