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SBD/May 2, 2012/Marketing and Sponsorship
Under Armour's Plank Announces New Products, Expects Continued Growth
Published May 2, 2012
BUSINESS IS BOOMING: In Baltimore, Jack Lambert wrote UA's baseball cleats "helped drive the company's" $64M in footwear sales in Q1. Plank noted, "Cleats as a whole, between football, baseball and soccer, is a $900 million category." Plank said that the success of UA's cleats "could help its overall footwear line ... as the company is getting set to launch a new 'midsole technology' in both athletic shoes and cleats in July." Plank said that UA is "filming a new commercial for the new midsole technology this week," featuring Panthers QB Cam Newton, Patriots QB Tom Brady and UFC fighter George St. Pierre. The commercial will "run in July, when the shoes hit stores" (BIZJOURNALS.com, 5/1). In a Q&A with the BALTIMORE BUSINESS JOURNAL's Lambert, Plank said of plans to compete with Nike for more of an NFL presence, "I think we're up over 100 players in the NFL wearing cleats and gloves out there." In regards to any future UA acquisitions, Plank said, "We’ll never say never on anything, but we’ve never bought a company in our company’s history. I think frankly that’s been one of the things that gets people off course a couple of times, thinking about solving for everybody else." As for whether UA would be willing to become title sponsor of the IndyCar Baltimore Grand Prix, Plank said, "We’ll help. We participated a year ago too, but I don’t think that is our role to take (the title sponsorship) on (BIZJOURNALS.com, 5/1).