Who Owns Under Armour?

Under Armour is primarily owned by Kevin A. Plank. Plank is Under Armour’s founder and executive chairman. His stake in the company, at current market value, is worth over one billion dollars, as he owns 34,742,229 Class A shares (15.6% of outstanding Class A shares) and 33,857,645 Class C shares (13.2% of outstanding Class C shares), holding 64.7% of the total voting power.

Aspect	Description	Analysis	Examples
Products and Services	Under Armour offers a range of athletic apparel, footwear, and accessories designed for various sports and athletic activities. Their products include performance wear, athletic shoes, outerwear, compression gear, and sports accessories like bags, gloves, and hats. Under Armour also provides connected fitness products and apps to track and improve athletic performance.	Under Armour’s core offerings revolve around athletic apparel, footwear, and accessories catering to sports and athletic activities. The company emphasizes performance, innovation, and technology in its products. Additionally, their connected fitness products and apps enhance the overall athletic experience for users.	Athletic apparel, footwear, and accessories for various sports and activities, emphasis on performance and technology, connected fitness products and apps to enhance athletic performance, comprehensive product range.
Revenue Streams	Under Armour generates revenue primarily from the sale of its athletic products and accessories to consumers through various channels, including company-owned retail stores, e-commerce websites, and third-party retailers. The company also earns income from licensing agreements, sponsorships, and endorsements.	The primary source of revenue for Under Armour is the sale of athletic products through retail stores, e-commerce platforms, and third-party retailers, reflecting a direct-to-consumer and B2B approach. Income from licensing agreements, sponsorships, and endorsements enhances brand visibility and revenue diversification. Under Armour’s multiple revenue streams contribute to financial stability.	Revenue from the sale of athletic products through retail stores, e-commerce websites, and third-party retailers, income from licensing agreements, sponsorships, and endorsements, diversified revenue streams contributing to financial stability.
Customer Segments	Under Armour serves a diverse customer base that includes individual consumers looking for athletic gear for various sports and fitness activities. The company also caters to athletes, both professional and amateur, who seek high-performance sportswear. Additionally, Under Armour partners with sports teams and organizations for custom apparel and uniforms.	Customer segments for Under Armour encompass individual consumers seeking athletic gear for sports and fitness, athletes (professional and amateur) in need of high-performance sportswear, sports teams and organizations requiring custom apparel and uniforms. The company’s broad clientele spans individual consumers, athletes, and B2B customers.	Individual consumers, athletes (professional and amateur), sports teams, and organizations, broad clientele spanning individual consumers and B2B customers.
Distribution Channels	Under Armour products reach consumers through a variety of distribution channels. The company operates company-owned retail stores and outlets, which offer a direct-to-consumer shopping experience. E-commerce websites enable online sales and accessibility. Under Armour products are also available through third-party retailers, including sporting goods stores, department stores, and specialty shops.	Distribution channels for Under Armour include company-owned retail stores and outlets, providing a branded shopping experience. E-commerce websites facilitate online sales. Third-party retailers, including sporting goods stores and department stores, offer wider accessibility to consumers. The multi-channel approach ensures convenience and availability.	Company-owned retail stores and outlets providing a branded shopping experience, e-commerce websites for online sales, third-party retailers including sporting goods stores and department stores ensuring convenience and availability.
Key Partnerships	Under Armour collaborates with various stakeholders to enhance its product offerings and brand presence. Partnerships with professional athletes and sports teams provide endorsements and opportunities for customized gear. Licensing agreements expand brand visibility into different product categories. Collaborations with technology companies drive innovation in connected fitness products and apps.	Collaborations with professional athletes and sports teams enhance Under Armour’s brand presence and provide endorsement opportunities. Licensing agreements extend brand visibility into various product categories, diversifying the product portfolio. Collaborations with technology companies drive innovation, particularly in connected fitness products and apps, keeping the brand relevant and competitive. Partnerships are integral to growth and innovation.	Collaborations with professional athletes and sports teams for endorsements and custom gear, licensing agreements diversifying the product portfolio, collaborations with technology companies driving innovation in connected fitness products and apps, integral to growth and innovation.
Key Resources	Key resources for Under Armour include its portfolio of athletic apparel, footwear, and accessories, representing the core product offerings. The company’s brand and reputation as a performance-oriented sportswear provider are valuable assets. Manufacturing and production facilities are crucial for product creation. Distribution networks and retail stores ensure product availability. Research and development capabilities drive innovation and product quality. A team of athletes and endorsers supports brand promotion.	Resources for Under Armour encompass a portfolio of athletic products, a performance-oriented brand and reputation, manufacturing and production facilities, distribution networks and retail stores for product availability, research and development capabilities for innovation and quality, a team of athletes and endorsers for brand promotion. These resources collectively contribute to the company’s success.	Portfolio of athletic products, performance-oriented brand and reputation, manufacturing and production facilities, distribution networks and retail stores, research and development capabilities, team of athletes and endorsers, resources collectively contributing to success.
Cost Structure	Under Armour incurs costs related to the production and manufacturing of athletic apparel, footwear, and accessories, including expenses for raw materials, labor, and factory operations. Marketing and advertising expenditures promote Under Armour’s brand and products. Research and development investments drive product innovation and quality. Sales and customer support costs cover efforts to acquire and serve consumers and business clients. Administrative and operational expenses support daily business operations.	Costs associated with Under Armour’s operations include raw material procurement, labor, and factory operations for product production and manufacturing. Marketing and advertising expenses promote the brand and products, enhancing market visibility. Research and development investments drive innovation and ensure product quality. Sales and customer support costs facilitate consumer and business client acquisition and satisfaction. Administrative and operational expenses support daily business activities. Cost management is crucial for competitiveness.	Raw material procurement, labor, and factory operations for production and manufacturing, marketing and advertising expenses promoting brand and products, research and development investments driving innovation and quality, sales and customer support costs for consumer and business client acquisition and satisfaction, administrative and operational expenses for daily business activities, cost management crucial for competitiveness.
Competitive Advantage	Under Armour’s competitive advantage is rooted in its performance-oriented brand and reputation, offering high-quality athletic products for various sports and activities. The company’s collaborations with professional athletes and sports teams enhance brand visibility and endorsement opportunities. Licensing agreements diversify the product portfolio and expand brand presence. Innovation in connected fitness products and apps keeps Under Armour relevant in a technology-driven market. A strong distribution network ensures product accessibility to consumers.	Under Armour’s competitive edge lies in its performance-oriented brand and reputation, providing high-quality athletic products. Collaborations with professional athletes and sports teams enhance brand visibility and endorsements, adding authenticity. Licensing agreements expand the product portfolio and brand presence across categories. Innovation in connected fitness products and apps showcases adaptability in a technology-driven market. A strong distribution network ensures broad accessibility. The combination of these factors reinforces Under Armour’s competitive strength.	Performance-oriented brand and reputation, high-quality athletic products, collaborations with professional athletes and sports teams for brand visibility and endorsements, licensing agreements diversifying the product portfolio, innovation in connected fitness products and apps for adaptability, strong distribution network ensuring accessibility, competitive strength built on quality, authenticity, diversification, and innovation.

Table of Contents

Breaking down Under Armour’s ownership structure

Kevin A. Plank: Founder and Executive Chairman of Under Armour, owns a significant stake in the company.
- Owns 34,742,229 Class A shares (15.6% of outstanding Class A shares).
- Owns 33,857,645 Class C shares (13.2% of outstanding Class C shares).
- Holds 64.7% of the total voting power.
Patrik Frisk: President and Chief Operating Officer of Under Armour.
- Owns 14,000 Class A shares (less than 1% of outstanding Class A shares).
- Owns 639,714 Class C shares (less than 1% of outstanding Class C shares).
Douglas E. Coltharp: Chief Supply Chain Officer of Under Armour.
- Owns 98,914 Class A shares (less than 1% of outstanding Class A shares).
- Owns 99,279 Class C shares (less than 1% of outstanding Class C shares).
Other Beneficial Owners: Including Jerri L. DeVard, Mohamed A. El-Erian, David W. Gibbs, Karen W. Katz, Westley Moore, Eric T. Olson, and Harvey L. Sanders.
- Each own small amounts of Class A and/or Class C shares, representing less than 1% of the outstanding shares in their respective classes.
David Bergman: Chief Financial Officer of Under Armour.
- Owns 26,835 Class A shares (less than 1% of outstanding Class A shares).
- Owns 189,640 Class C shares (less than 1% of outstanding Class C shares).
Colin Browne: Chief Operating Officer of Under Armour.
- Owns 180,803 Class C shares (less than 1% of outstanding Class C shares).
Stephanie Pugliese: President of North America for Under Armour.
- Owns 92,504 Class C shares (less than 1% of outstanding Class C shares).
All Executive Officers and Directors as a Group:
- Beneficially own 35,111,627 Class A shares (15.6% of outstanding Class A shares).
- Beneficially own 35,590,192 Class C shares (13.9% of outstanding Class C shares).
- Hold 64.7% of the total voting power.
5% Stockholders:
- BlackRock, Inc.: Owns 11,176,582 Class A shares (5.0% of outstanding Class A shares).
- The Vanguard Group: Owns 19,894,614 Class A shares (8.9% of outstanding Class A shares).
- BlackRock, Inc. and The Vanguard Group hold 2.1% and 3.7% of the total voting power, respectively.

Business Model of Under Armour

Under Armour operates as a global sports and athletic apparel company with a focus on performance-based products. The company’s business model revolves around creating innovative and high-quality sportswear, footwear, and accessories that cater to athletes and fitness enthusiasts. Key aspects of Under Armour’s business model include:

Product Innovation: Under Armour places a strong emphasis on research and development to create cutting-edge and performance-enhancing products. The company invests in technology and materials to offer athletes innovative gear that improves their performance and comfort.
Brand Identity: Under Armour has built a strong brand identity centered on performance, athleticism, and determination. The brand targets athletes across various sports and fitness activities, aiming to inspire and empower them to perform at their best.
Global Distribution: Under Armour has an extensive distribution network, including retail stores, online channels, and partnerships with sporting goods retailers. This wide reach allows the company to sell its products to a global customer base.
Endorsements and Sponsorships: Under Armour leverages celebrity endorsements and sponsorships with professional athletes and sports teams to increase brand visibility and credibility. High-profile partnerships help the brand resonate with consumers and athletes alike.
Direct-to-Consumer (DTC) Strategy: The company has been focusing on growing its direct-to-consumer sales through its e-commerce platform and company-owned retail stores. This strategy allows Under Armour to have better control over its customer relationships and data.
Athletic Performance and Training Apps: Under Armour has ventured into digital fitness and training apps, such as MapMyRun, MyFitnessPal, and Endomondo. These apps complement the company’s product offerings and enhance engagement with its customer base.

Organizational Structure of Under Armour:

Under Armour follows a traditional organizational structure with clear lines of authority and decision-making. The structure comprises several key elements:

Board of Directors: The board is responsible for overseeing the company’s overall strategy, financial performance, and governance. It comprises independent directors and key executives, including the CEO.
Executive Leadership Team: The executive leadership team, led by the CEO, includes top-level executives responsible for various functional areas, such as operations, finance, marketing, and product development.
Functional Departments: The company is organized into functional departments, each responsible for specific aspects of the business, such as design and innovation, manufacturing, marketing, sales, and finance.
Geographical Segments: Under Armour may also have geographical segments, especially in regions with significant market presence. Each segment is led by a regional manager or vice president.
Cross-Functional Teams: Cross-functional teams may be formed to work on specific projects or initiatives, fostering collaboration and innovation across different functional areas.
Retail and Wholesale Operations: The company’s retail operations are managed by retail teams, responsible for overseeing Under Armour’s company-owned stores. Wholesale operations involve partnerships with sporting goods retailers and department stores.

Overall, Under Armour’s organizational structure is designed to support its global operations, drive innovation, and maintain a strong brand presence in the sports and athletic apparel market.

Key Takeaways

Founder Dominance: Under Armour is primarily owned and controlled by its founder, Kevin A. Plank, who holds a significant portion of the company’s shares and has a majority of the total voting power. This founder dominance gives Plank significant influence over the company’s direction and decision-making.
Concentration of Ownership: The ownership of Under Armour is concentrated among a few major shareholders, including institutional investors like BlackRock, Inc. and The Vanguard Group. This concentration can impact the company’s stock performance and decision-making, as major shareholders hold significant sway.
Focus on Performance and Innovation: Under Armour’s success is built on its focus on creating high-performance athletic apparel and footwear. The company’s commitment to innovation and product development helps maintain its competitive edge in the sports apparel market.
Global Brand Presence: Under Armour has successfully established a global brand identity centered on performance and athleticism. This strong brand presence allows the company to resonate with athletes and fitness enthusiasts worldwide and expand its market reach.
Direct-to-Consumer Strategy: Under Armour’s direct-to-consumer strategy, through its e-commerce platform and company-owned stores, enables better control over customer relationships and data. This approach allows the company to provide a personalized experience to its customers.
Digital Fitness Apps: Under Armour’s foray into digital fitness and training apps complements its product offerings and enhances customer engagement. These apps also provide valuable data insights, which can inform product development and marketing strategies.
Competition and Challenges: Under Armour faces intense competition in the sportswear industry from established rivals like Nike and Adidas. The company needs to continually innovate and differentiate its products to maintain market share.
Leadership and Governance: With founder Kevin A. Plank stepping down as CEO in 2019 and becoming the executive chairman, the company’s leadership transition is crucial for maintaining momentum and driving growth.
Market Volatility: As a publicly-traded company, Under Armour is subject to market fluctuations and investor sentiment. The company’s financial performance and ability to meet market expectations can significantly impact its stock price.
Sustainability and Social Responsibility: In an increasingly conscious market, Under Armour’s commitment to sustainability and social responsibility can play a vital role in shaping its brand reputation and customer loyalty.