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SBD/May 14, 2014/Marketing and Sponsorship
Under Armour's Plank Acknowledges Sochi Speedskating Issue During Shareholder Meeting
Published May 14, 2014
STRONG & RISING: In Baltimore, Lorraine Mirabella writes Plank is "far from alone in believing the relatively young Baltimore-based company has a shot at becoming the world's biggest sports brand." Shares of UA "have soared" 65% in the past year. The company is "looking to take market share from bigger rivals" such as Nike and adidas by "targeting the women's sports apparel and footwear markets, opening dozens of its own retail outlets and spreading its brand slowly but surely around the globe." After 16 consecutive quarters of sales gains of 20% or more, UA "anticipates nearly" $3B in sales for '14. Mirabella notes UA "envisions sales to women," now a $500M segment, "surpassing" the $1B men's category someday. UA this summer will "kick off a marketing campaign to female consumers" featuring ballerina Misty Copeland. Plank yesterday said UA has yet to develop its "defining product as a brand" (Baltimore SUN, 5/14).