Under Armour's Business Empire: Discovering Daughter Companies and Labels
Under Armour, the Baltimore-based athletic apparel giant, is making significant strides in the world of fitness technology and sustainable practices.
The company's leadership and governance revolve around a committed executive team and a strategic board of directors. Notable members include Kevin A. Plank, the founder of Under Armour, who currently holds the title of Executive Chairman and Brand Chief, driving innovation and representing the brand's commitment to empowering athletes. Another distinguished member is Admiral Eric T. Olson, a retired U.S. Navy Admiral and former Commander of the U.S. Special Operations Command, bringing invaluable leadership experience to the governance table.
Under Armour operates under a robust leadership and governance structure designed to drive growth and reflect its core values. This structure is reflected in the company's adherence to comprehensive corporate governance, as evidenced by the diversity of the Board of Directors.
Under Armour has strategically aligned itself with various institutions, teams, and individuals to boost its brand visibility and market penetration. Prominent institutions such as the University of Notre Dame and University of Maryland have embraced Under Armour's sponsorship, while the company has inked sponsorship deals with various teams and sports associations, including college teams, professional soccer clubs, and international rugby teams. A notable endorsement deal involves NBA star Stephen Curry, which has involved equity partnerships and the launch of a Curry-specific brand.
In the realm of fitness technology, Under Armour currently offers three main digital health and fitness applications. MyFitnessPal focuses on calorie and nutrition tracking, helping users log their food intake and manage dietary goals. Endomondo serves as a fitness tracking app primarily for runners and body fitness enthusiasts, offering workout tracking and motivation tools. MapMyFitness (including MapMyRide) tracks a wide range of physical activities, especially running, cycling, and walking, offering GPS-based workout mapping, performance analysis, and community sharing features. Together, these applications form the core of Under Armour’s digital fitness ecosystem, each addressing different aspects—nutrition, general fitness, and activity tracking—to enhance users' health and training experiences.
The UA App focuses mostly on shopping for athletic gear and providing users with product recommendations and member benefits rather than fitness tracking itself.
Under Armour's commitment to sustainability is evident in its 2023 Sustainability and Impact Report, which outlines the company's commitments and actions towards a more sustainable future. The company aims to make meaningful strides in making their products more sustainable, which not only benefits the environment but also resonates with consumers who share these values.
Under Armour has faced legal and regulatory challenges in the past, including SEC charges related to disclosure failures centered around the company's sales practices, specifically its revenue recognition tactics. However, the company continues to optimize and maintain its digital apps to strengthen its position in the fitness technology market.
Current industry trends show a surge in demand for athletic wear that combines technology with comfort, a niche where Under Armour has room to excel. As the company navigates its strategic growth phases under the leadership of Patrik Frisk, it remains committed to its mission of making all athletes better through passion, science, and the relentless pursuit of innovation.
[1] Under Armour's Digital Health and Fitness Applications [2] Under Armour's Digital Health and Fitness Strategy [3] Under Armour's UA App [4] Under Armour's Digital Health and Fitness Ecosystem
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