Under Armour Stock

Topics: Stock market, Under Armour, Stock Pages: 4 (1330 words) Published: January 4, 2013
Under Armour
Under Armour is an American sports clothing and accessories company. The company supplies a wide range of sportswear and casual apparel. They mainly focus on hi-tech sportswear for professional athletes. Under Armour’s global headquarters is located in Baltimore, Maryland. The company was founded in 1996 by Kevin Plank, a 23-year old former special teams captain for the University of Maryland football team. Plank began the business from his grandmother’s basement in Washington, D. C. at the University of Maryland, Plank launched various business of his own. Kevin developed Cupid’s Valentine, an annual business that sold roses for Valentine’s Day. He put away $17,000 from the rose business, which eventually became seed money for Under Armour. The original concept for Under Armour was born out of necessity, as Plank was the self-proclaimed “sweatiest guy on the football field”. Frustrated by his sweat-soaked cotton t-shirts' inability to keep him dry and comfortable, he started the hunt for a material that would wick the sweat from his body to make him lighter and faster. As a fullback at the University of Maryland, Plank got tired of having to change out of the sweat-soaked T-shirts worn under his jersey; however, he noticed that his compression shorts worn during practice stayed dry. This inspired him to make a T-shirt using moisture-wicking synthetic fabric. After graduating from the University of Maryland, Plank developed his first prototype of the shirt, which he gave to his Maryland teammates and friends who had gone on to play in the NFL. Plank soon perfected the design creating a revolutionary new T-shirt built from microfibers that McCabe 2

wicked moisture and kept athletes cool, dry, and light. Major competing brands including Nike, Adidas and Reebok would soon followed in Plank's footsteps with their own version of Under Armour's moisture-wicking apparel. From local tailor shops in College Park, Maryland to the garment district of New...
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