The Career Of Sports Apparel For The Best
1016 WordsNov 4, 20155 Pages
About the Company
An idea that changed the course of sports apparel for the best. Under Armour’s Chief Executive Officer and Chairman of the Board of Directors Kevin A. Plank came across the idea in 1995. At the time, Plank was the special teams captain for the University of Maryland’s football team. His plan was to find an alternative to the sweat soaked cotton shirt, him and his teammates were so tired of dealing with. Upon graduation, he set out to find the perfect material for his first prototype. After months of design and research Plank, gave away his prototypes to his teammates in return for feedback on his product. Plank’s final design was a T-shirt that was built from microfibers which, helped keep athletes cool, dry and light. In…show more content… On December 6, 2013, UA acquired 100% of the outstanding equity of Map My Fitness, Inc., a digital connected fitness platform, for $150 million in cash. Also, on January 5, 2015, UA acquired 100% of the outstanding equity of Endomondo, a Denmark-based connected fitness company for $85 million in cash. On February 3, 2015, UA acquired My Fitness Pal, Inc. The price of acquirement was $475 million in cash. Under Armour is expanding their business overseas by on-field partnerships with, “elite athletes and teams from virtually every sport you can imagine like Cam Newton, Tom Brady, Brandon Jennings, Lindsey Vonn, Bryce Harper, Natasha Hastings, Lauren Cheney, Stephen Curry, Misty Copeland, the Welsh Rugby Union, and many more.” Under Armour also sponsors athletes in Japan, Europe, Canada, and Latin America. Today, their revenue is approaching $2 Billion, recognized as a global leader in performance footwear, apparel, and accessories.
Since the day Under Armour went public on November 18, 2005 with an initial public offering of $13 a share, which happened to be at a higher rate the company was anticipating. Under Armour has experienced great growth in the stock market when compared to the S&P 500, Dow Jones Industrial Average(DJIA) and its major competitor Nike. As of November 3, 2015 Under Armour’s stock closed at $96.40. Over the last year from November 4, 2013 – November 3, 2015 the stock has shown at 47% increase, compared to S&P 500 at