Get a demo Do I subscribe? News sign-up
Print

Women can boost Under Armour

News, 25 April 2016
Topics

BALTIMORE, MD: Under Armour, the sports apparel group, has posted healthy first quarter revenues that were boosted by celebrity endorsement, but the brand now also wants to focus on its growing popularity among women.

The 20-year-old company reported sales growth of 30% to $1.05bn in the three months to the end of March, with footwear endorsed by NBA star Stephen Curry proving to be a big hit, CBS reported.

With Curry a firm favourite among fans, Under Armour is hopeful his association will help to accelerate sales of his footwear, such as the Curry 2.5 shoe, which launches later this month, and the Curry 3 which is due to come out later this summer.

Under Armour also performed well abroad as it reported sales outside North America had grown 56% year-on-year to $147m, or 14% of total net revenues in the quarter.

According to the company, it earned more revenue in 90 days in China this year than it did in the full year of 2014, and its kit partnerships with some English Premier League football clubs also helped.

"The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies," said Kevin Plank, chairman and CEO of Under Armour, in a statement.

"It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop."

The company's women's sportswear category is also expected to surpass $1bn in revenue this year and Plank pointed out that growth in online purchases of women's activewear was outpacing growth in menswear.

Indeed, Chris Carroll, Under Armour's former European head of marketing, told last week's Advertising Week Europe event in London that female consumers are now "critical" to the success of the brand.

Data sourced from CBS, Under Armour, Marketing Magazine; additional content by Warc staff

Topics