CEO and founder of Under Armour, Kevin Plank, has made a billion dollar sportswear company within a 20 year period. Under Armour is one of the top sportswear companies in the world. During the mid 1990’s Plank created Under Armour in the basement of his grandmother’s Washington D.C. home. He sampled his shirt concept to some of his friends’ professional football teammates. This was an opportunity to test the product’s sweat resistance on real athletes. The product was a success, he continued to steadily grow in sales from 1996 to 1999.
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In 1999, Plank launched a $25K advertisement with ESPN magazine and made his first million in sales revenue. The company continues a steep incline in sales from 2000 to 2010 when the company reached the $1 billion mark. This incline was attributed to sports teams purchases of their products and the publicity and exposure the company received for their consumers testimonials.
Kevin Plank, university graduate of the University of Maryland, received his Master of Arts and Bachelor of Arts in Business Administration prior to creating his successful business empire Under Armour. He was able to turn this success into an empire by using his extensive education and research. Since Kevin was young and ambitious he was able to reach the younger generation of athletes emerging in the late 1990’s.
Kevin Plank wanted to expand his empire even further to test his business capability. He purchased My Fitness Pal and Endomondo for almost half of a billion dollars. His intention with the purchase of these two major fitness apps was to create a fitness platform that could stand up to companies like Fitbit and Google. Plank has come a long way from Maryland to a worldwide sportswear company.
The fashion industry is a very hard company to break out and be remembered in. Kevin Plank found a way to do that in a way that is practical and useful for the everyday person as well as for a professional athlete. Refer to This Article. The ability to stay cool and dry in a t-shirt is a concept that was made famous by Kevin Plank’s Under Armour brand.
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