Kevin Plank Net Worth

Kevin Plank Net Worth

Kevin Plank is Under Armour’s primary owner and founder, of which he’s also chairman. His stake in the company is worth over a billion dollars at current market value, making him a billionaire.

Key Highlights

  • Inception of Under Armour:
    • Founded Under Armour in 1996.
    • Started from his grandmother’s basement in Washington, D.C.
    • Identified the need for high-performance athletic apparel with moisture-wicking technology.
  • Entrepreneurial Vision:
    • Pioneered moisture-wicking fabric technology for athletic apparel.
    • Created products designed to enhance athletic performance and comfort.
    • Focused on catering to athletes’ needs and demands.
  • Brand Growth and Popularity:
    • Grew Under Armour’s popularity among athletes and fitness enthusiasts.
    • Expanded product offerings to include clothing, footwear, and accessories.
    • Established the brand as a symbol of innovation and dedication to athletes.
  • Leadership and Innovation:
    • Guided Under Armour through various growth phases.
    • Fostered a culture of innovation and hard work within the company.
    • Led the development of cutting-edge athletic gear.
  • Strategic Partnerships and Sponsorships:
    • Forged strategic partnerships with athletes and sports teams.
    • Collaborated with professional athletes to design performance gear.
    • Enhanced brand visibility through high-profile sponsorships.
  • Initial Public Offering (IPO):
    • Took Under Armour public with an IPO in 2005.
    • Used resources from the IPO for further expansion and development.
    • Marked a significant milestone in the company’s history.
  • Personal Financial Accomplishments:
    • Accumulated ownership stake in Under Armour.
    • Ownership stake valued at over a billion dollars, making him a billionaire.
    • Highlighted his role in the company’s financial success.
  • Legacy and Impact:
    • Solidified Under Armour’s position as a major player in the sportswear industry.
    • Demonstrated the power of entrepreneurial vision and innovation.
    • Elevated Plank’s status as a successful entrepreneur and business leader.

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Under Armour Revenue

under-armour-revenue
In 2021, the company’s net revenues increased to $5.68 billion, up from $4.47 billion in 2020, representing a 27% growth. The net revenues in 2021 were higher than the net revenues in 2019, which were $5.27 billion, representing an 8% growth compared to 2021. The decrease in net revenues from 2019 to 2020 was approximately 15%.

Under Armour Profitability

under-armour-profits
In 2019, the company reported a net income of $0.09 billion. In 2020, the company had a net loss of $0.55 billion. In 2021, the company’s net income was $0.36 billion.

Under Armour Revenue By Channel

under-armour-revenue-by channel
In 2021, wholesale accounted for 57% of the company’s financial data. Licensing represented a smaller portion, contributing 2% to the financial data. Direct-to-consumer sales made up a significant share, comprising 41% of the financial data in 2021.

Under Armour Revenue By Product

under-armour-revenue-by-product
Apparel revenue: $3.47 billion in 2019, $2.88 billion in 2020, and $3.84 billion in 2021. Apparel has been the largest revenue contributor in each year. Footwear revenue: $1.09 billion in 2019, $0.93 billion in 2020, and $1.26 billion in 2021. Footwear revenue showed a decline in 2020 but rebounded in 2021. Accessories revenue: $0.42 billion in 2019, $0.41 billion in 2020, and $0.46 billion in 2021. Accessories revenue remained relatively stable throughout the period. License revenues: $0.14 billion in 2019, $0.11 billion in 2020, and $0.11 billion in 2021. License revenues experienced a decline from 2019 to 2020 but remained stable in 2021. Corporate Other revenue: $0.16 billion in 2019, $0.14 billion in 2020, and $0.004 billion in 2021. Corporate Other revenue saw a significant decrease in 2021.

Under Armour Revenue By Geography

under-armour-revenue-by-geography
North America revenues: $3.66 billion in 2019, $2.94 billion in 2020, and $3.81 billion in 2021. EMEA revenues: $0.62 billion in 2019, $0.60 billion in 2020, and $0.84 billion in 2021. Asia-Pacific revenues: $0.64 billion in 2019, $0.63 billion in 2020, and $0.83 billion in 2021. Latin America revenues: $0.20 billion in 2019, $0.16 billion in 2020, and $0.20 billion in 2021. North America revenues: Decreased by 19.7% from 2019 to 2020, and increased by 29.4% from 2020 to 2021. EMEA revenues: Decreased by 3.2% from 2019 to 2020, and increased by 40.8% from 2020 to 2021. Asia-Pacific revenues: Decreased by 1.6% from 2019 to 2020, and increased by 32.3% from 2020 to 2021. Latin America revenues: Decreased by 20% from 2019 to 2020 and increased by 18.5% from 2020 to 2021.

Under Armour Profits By Geography

under-armour-profits-by-geography
North America operating income: Decreased by 35.3% from 2019 to 2020, and increased by 104.8% from 2020 to 2021. It contributed the most to the total operating income in each year. EMEA operating income: Increased by 12.8% from 2019 to 2020, and grew by 118.8% from 2020 to 2021. EMEA’s contribution to the total operating income increased over the years. Asia-Pacific operating income: Decreased by 100% from 2019 to 2020, and increased significantly from near-zero in 2020 to $132.91 million in 2021. The Asia-Pacific segment rebounded in 2021. Latin America operating income: Improved from -$3.16 million in 2019 to -$42.79 million in 2020, and turned positive with an increase of 152.3% to $22.39 million in 2021. Latin America’s contribution to the total operating income improved in 2021 after two years of negative operating income.

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Kevin Plank Net Worth

Kevin Plank Net Worth
Kevin Plank is Under Armour’s primary owner and founder, of which he’s also chairman. His stake in the company is worth over a billion dollars at current market value, making him a billionaire.

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