On a recent earning call with press and analysts, Under Armour chairman and CEO Kevin Plank outlined some key strategic steps the brand is taking to reach more customers.
Plank outlined his plans for three key areas: channels, categories and geographies, as reported by Retail Info Systems News.
In addition to its thriving wholesale consumer goods business, Under Armour operates its own retail stores, e-commerce site and mobile retailing platform.
While its wholesale business continue to be the biggest piece of Under Armour‘s revenue pie, it is investing to aggressively grow its direct-to-customer channels.
Under Armour has announced Under Armour Sportwear (UAS)— a line of apparel designed for use off the field.
“UAS is not just a category play or a distribution play, it’s about bringing a new consumer into the Under Armour brand,” Plank said. “UAS will bring a young, fresh and modern voice to sportswear.”
Under Armour is also looking to increase its profile internationally, specifically in China. Under Armour’s e-commerce presence in the country is experiencing amazing growth, with year-to-date revenues up 157%.
“Our e-Commerce in China has basically exploded for us,” Plank says. And so this is not just a bricks-and-mortar story. And frankly, China may actually end up being the palette that we’re able to write the script of what is that balance.”
(Source: RIS News)