Protection Plan: Under Armour's Plank Profiled On "Today"
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NBC's "Today" Profiles
Under Armour's Kevin Plank |
Many companies "are downsizing and, of course, laying off workers" amid the current economy, but Under Armour (UA) is one of a few managing "to turn a profit," according to NBC's Matt Lauer in a profile of UA Chair & CEO Kevin Plank. NBC's Jenna Wolfe reports the apparel company made a $725M profit in '08, and it has "grown to compete with sports apparel giants like Nike and Reebok" since being created 13 years ago in Plank's grandmother's basement. UA has since "expanded to seven cities with over 2,000 employees," and while Plank's annual salary "has steadily increased, earning as much as $500,000 annually, he’s always remained hands-on and attributes much of his success to never forgetting where he started." Plank: “We run this company much like a team. Sales and marketing is like offense. Manufacturing and distribution is like defense. Finance and IT are like our special teams.” Wolfe notes at a time when "most companies are facing financial losses, (UA) is flourishing, with a new sneaker line just launched in January.” Plank: “People always ask me, ‘Can you believe it and how about that?’ The thing I always answer with is, ‘You know what, more important than anything else, I never believed it wouldn't happen'" ("Today," NBC, 4/15).
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