1. Introduction
“I WILL” may sound simple, but it has brought a significant values to the brand, Under Armour (UA). UA’s mission is to make all athletes better through Passion, Design and the relentless pursuit of innovation (Under Armour, 2016). The tagline “I WILL” capture the intensity, passion and drive for overcoming obstacles and become the champion in a battle. UA essence revolves about weaker party competing against the best and winning the battle. It is started in 1996 by a 23 years old former university of Maryland football team captain, kevin Plank. He was a footballer when he was young and dislike having to change the sweat-soaked clothes again and again, hence, he come up with the idea to create something new and better. Kevin …show more content…
Today, it is widely recognized as a global leader in footwear, apparel (shirts, pants, sweatshirt, hoodies, jackets and etc.), and accessories (bags, gloves, socks and etc.). UA cater products to men, women as well as kids. UA has been one of the faster growing sportswear brands approaching 4 billion dollars in sales and stock price setting a new high of 105.89 which is a more than 40% increase since 2014. UA has overtaken Adidas and become number two United State (US) Sportswear Company with a market share of 6% behind Nike (13% market share) in US and it falls in the top five bestselling sport brand globally. Currently, there are six UA outlets in singapore.
2. Evaluation of Current Business Strategies
Many companies launched different type of business strategies to compete against their rivals in order to improve their market positions in that industry. UA has been a strong upcoming competitive company in the sports wear industry during the last few years. Below are some of the strategies UA used to compete in the sportswear industry.
2.1 Strategy 1 – Continuous …show more content…
While Acquisition is the buying of most/all of a target company’s ownership stakes to gain control of the target company (Investopedia, 2016). Acquisition can be seen as a mean of innovation as manages are able to make use of the resources to approach new industry (Lin et al.,2015). UA make use of acquisition to move into new industry to create a product diversity.
Other than producing apparels, UA has move into the footwear and fitness technology industry. UA noticed the importance in the power of community and open platform. Hence, it completed its acquisition of Endomondo, a fitness tracking platform for users to share workouts, and MyFitnessPal, an online calories counter, to create the world’s biggest digital health and fitness community to better understand the needs of athletes. Since the acquisition, the community has increase to 120 millions users and eventually help to build up UA brand awareness and therefore increase the
“I WILL” may sound simple, but it has brought a significant values to the brand, Under Armour (UA). UA’s mission is to make all athletes better through Passion, Design and the relentless pursuit of innovation (Under Armour, 2016). The tagline “I WILL” capture the intensity, passion and drive for overcoming obstacles and become the champion in a battle. UA essence revolves about weaker party competing against the best and winning the battle. It is started in 1996 by a 23 years old former university of Maryland football team captain, kevin Plank. He was a footballer when he was young and dislike having to change the sweat-soaked clothes again and again, hence, he come up with the idea to create something new and better. Kevin …show more content…
Today, it is widely recognized as a global leader in footwear, apparel (shirts, pants, sweatshirt, hoodies, jackets and etc.), and accessories (bags, gloves, socks and etc.). UA cater products to men, women as well as kids. UA has been one of the faster growing sportswear brands approaching 4 billion dollars in sales and stock price setting a new high of 105.89 which is a more than 40% increase since 2014. UA has overtaken Adidas and become number two United State (US) Sportswear Company with a market share of 6% behind Nike (13% market share) in US and it falls in the top five bestselling sport brand globally. Currently, there are six UA outlets in singapore.
2. Evaluation of Current Business Strategies
Many companies launched different type of business strategies to compete against their rivals in order to improve their market positions in that industry. UA has been a strong upcoming competitive company in the sports wear industry during the last few years. Below are some of the strategies UA used to compete in the sportswear industry.
2.1 Strategy 1 – Continuous …show more content…
While Acquisition is the buying of most/all of a target company’s ownership stakes to gain control of the target company (Investopedia, 2016). Acquisition can be seen as a mean of innovation as manages are able to make use of the resources to approach new industry (Lin et al.,2015). UA make use of acquisition to move into new industry to create a product diversity.
Other than producing apparels, UA has move into the footwear and fitness technology industry. UA noticed the importance in the power of community and open platform. Hence, it completed its acquisition of Endomondo, a fitness tracking platform for users to share workouts, and MyFitnessPal, an online calories counter, to create the world’s biggest digital health and fitness community to better understand the needs of athletes. Since the acquisition, the community has increase to 120 millions users and eventually help to build up UA brand awareness and therefore increase the