Under Armour

Under Armour was founded in 1996 by Kevin Plank, a then-24-year-old former special teams captain of the University of Maryland football team. Frustrated with his sweat-soaked cotton T-shirts, Plank created Under Armour's first product: a T-shirt made of microfibers that wicked moisture away and kept athletes cool and dry. This innovative product was the beginning of the Under Armour brand, which has since grown to become a leading manufacturer of performance apparel, footwear, and accessories.

In 1999, Under Armour signed its first team sports contract with Georgia Tech, marking a significant milestone in the company's history. This partnership helped to increase the visibility of the brand in college sports and set the stage for future collaborations with other teams. By becoming the official outfitter for the Georgia Tech Yellow Jackets, Under Armour started building its reputation as a major player in the sports apparel industry.

Under Armour moved its headquarters to Baltimore, Maryland in 2003, establishing its presence in a historic tidewater industrial park at Tide Point. This move was part of a strategy to establish Baltimore as the home for Under Armour and grow its operations. The headquarters helped consolidate Under Armour's operations and established a base for the company's future growth, symbolizing a new phase in its development.

Under Armour made its initial public offering on November 18, 2005, and was listed on the NASDAQ under the ticker symbol "UA." This IPO was a major moment for Under Armour, as it provided the company with additional capital to expand its operations and marketing efforts. The IPO attracted significant attention in the financial community, helping to validate Under Armour's position as a growing force in the athletic apparel sector.

In 2011, Under Armour launched its innovative E39 shirt, which included electronic sensors that gathered performance data such as heart rate and respiration. The high-tech shirt was used by athletes participating in the NFL Scouting Combine, showcasing Under Armour's commitment to integrating technology into sportswear. The E39 represented Under Armour's foray into performance monitoring, highlighting their push towards connecting data with sports apparel.

In 2013, Under Armour entered a strategic partnership with the University of Notre Dame to supply uniforms, apparel, and equipment. This deal was significant not only for its financial terms but also because it marked a substantial endorsement of Under Armour's brand quality and recognition in the athletic collegiate marketplace. Notre Dame, with its storied history in college sports, brought visibility and a legacy of excellence to Under Armour's brand.

In July 2016, Under Armour acquired MyFitnessPal, a popular fitness tracking platform. This acquisition was part of Under Armour's strategic expansion into the digital health and fitness sector. MyFitnessPal, with its comprehensive diet and exercise tracking features, complemented Under Armour's existing suite of connected fitness devices and software, enhancing the company’s ability to offer data-driven solutions for health-conscious consumers.

In October 2018, Under Armour announced a significant restructuring plan to reset the company for future success. The plan involved cutting jobs, simplifying the business model, and focusing on more profitable product lines. This initiative was driven by the need to address declining sales and profitability, refocusing the company's resources towards key growth areas. The plan was seen as a necessary step to rejuvenate the brand's competitive edge in the athletic wear market.

In response to the COVID-19 pandemic, Under Armour launched several initiatives, including manufacturing protective gear for healthcare workers and donating millions of dollars to support community needs. These efforts demonstrated Under Armour's commitment to social responsibility and helped to reinforce its brand image as a supportive and active community member in times of crisis. The pandemic significantly impacted the retail landscape, challenging Under Armour to adapt quickly.

In August 2023, Under Armour announced the appointment of a new CEO, marking a pivotal change in the company's leadership strategy. The new CEO is tasked with steering Under Armour through a challenging market environment, focusing on innovation, sustainability, and digital transformation. This leadership change underscores Under Armour's commitment to revitalizing its brand and driving growth through strategic leadership and vision.