Corporate Histories
History of Under Armour
Under Armour is currently an athletic apparel, footwear, and accessory brand with the mission “to make all athletes better through passion, science, and the relentless pursuit of innovation” (Under Armour website). The brand was founded in 1996 by University of Maryland football player Kevin Plank in the basement of his grandmother’s house in Baltimore, Maryland. Based on his own athletic experience, Plank was inspired to create a sweat-wicking undershirt that did not get moisture-laden with sweat during games and practice. The company gained initial success with grassroots marketing among the athletic community. Under Armour did not reach mainstream consumers until the company’s products appeared in the 1999 film Any Given Sunday. It has continued to appear in other movies and television shows, and it has gained many athletic stars as spokespeople of the brand. Under Armour launched its first television advertisement, featuring football player Eric Ogbogu, in 2003. These marketing efforts have done well to expand consumer recognition of the brand’s initial product. Sweat-wicking shirts are now commonly known as “Under Armour” similar to the way tissues are now often just called “Kleenex.”
With its evolving brand image, Under Armour has been able to expand beyond the athletic performance apparel market, which it dominated at 75% of market share in 2005. Following its initial public offering in 2005, which raised over $100 million, the brand entered the footwear market, beginning with football and baseball cleats. Its credibility in the footwear industry was cemented by the NFL’s choice of Under Armour cleats as the official footwear of professional football. In 2009, Under Armour kicked off its entry into the lucrative running shoe industry, and in the fall of 2010, Under Armour announced its foray into basketball