Under Armour Continuing Growth, Expanding Into New Offices
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U.S Olympian Lindsey Vonn To Be Part Of
Under Armour's Int'l Marketing Plans |
Under Armour (UA) President David McCreight "acknowledges that times are hard, but said Under Armour is still growing and hiring, and will expand into new offices in December," according to Andrea Walker of the Baltimore SUN. The company's "additional 135,000 square feet is across the street" from UA HQs in Baltimore and "will include showrooms as well as offices." McCreight said that the economic recession "may have 'modulated' the company's planned growth and that stores that sell Under Armour products are watching inventory levels as consumers continue to curb spending." He added that UA "will maintain its pricing despite the slowdown in the economy and that the company will discount only when introducing a new line." McCreight said that '11 "will be a big year for new products, though he declined to say what the company would bring to market." McCreight said that UA's new running shoe "met many of the company's goals," and UA "could work on pricing and improve the technology of the shoe even more." McCreight: "We knew it would be a multiyear journey, so we'd rather get in the field, play offense, set our expectations and then continue to adapt and evolve the strategy." Meanwhile, Walker notes UA "continues to work on its international plan with a slow approach." It has signed U.S. skier Lindsey Vonn and is the "official kit supplier for the Welsh Rugby Union and for the German soccer league club Hannover 96." UA also is the official sponsor of athletic performance apparel for the Maple Leafs. McCreight said that UA "hasn't decided how big a part of the business it eventually wants the international market to become." He said the "pace and timing of the growth will come." Morningstar analyst R.J. Hottovy said, "It's going to take some time. It will be a work in progress for a while" (Baltimore SUN, 10/14).
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