Can The New President Create A New UA?

American sports brand based in Baltimore

The company announced Tuesday that it has found a new president for the company, which means that the company's founder, Kevin Plank, will give way from the seat of president who has served as president for more than 10 years.

According to the world clothing and shoe net, Kevin Plank20 opened a cotton store for its sportsman in his grandmother's garage a year ago.

20 years later, the shop has become a global sporting goods company with annual sales of US $5 billion.

In 2014, Under Armour surpassed Adidas to become the second largest sports sales brand in the United States.

As a black horse in the sports industry, Under Armour is even called the next Nike by the industry.

It's just the sum.

The biggest difference is that Under Armour 70%'s income comes from sportswear instead of sports shoes. Nike is just the opposite.

Let's get to know this upcoming Patrik Armour, the new president of Under Armour in July 10th.

Before joining the Under Armour, Frisk is the chief executive officer of the Canadian shoe trader and Aldo group, which is responsible for the company's long-term growth plan.

It seems that Frisk's understanding of shoes and its valuable shoe selling experience may be one of the reasons why Kevin Plank has entrusted him with heavy responsibilities, and is also the most needed when Under Armour is in the bottleneck of development.

After all, Under Armour wants to compete with the comprehensive sports brands such as Nike and Adidas. Sports shoes are an indispensable part, and this is exactly the short board.

In addition to Aldo, Frisk has more than 30 years of experience in sportswear and retail industry.

Before joining Aldo, he worked for VF Corporation (Vf Corporation), a famous clothing company in the United States for 10 years, and was responsible for the group's The North Face, Timberland, JanSport, lucy and SmartWool brands.

There are probably many people who like the Under Armour brand because of NBA player Curie, and the basketball shoes that are named after him have actually made Under Armour a sport in the category of sports shoes.

In 2015, sales of Curie basketball shoes reached $160 million, a figure that surpassed all other NBA players and directly promoted the annual growth of Under Armour footwear products by 57%.

In fact, in addition to Currie, Under Armour also signed many sponsors of the world's top athletes: Tom Brady, Misty Copeland, Jordan Speith, and flying fish Michael Phelps.

Despite its All-Star luxury lineup, the company's share price has dropped to far below its own value in recent years.

In the fourth quarter of last year, sales of Under Armour increased by 11.7%, and the company's record for 26 consecutive quarters of revenue growth at least 20% was broken for the first time.

On the day of the earnings announcement, the stock price plunged wildly and dropped by 20%.

What is worse is that in the first quarter of this year, Under Armour's revenue growth has fallen below double digits, and the total profit is a loss of $2 million 270 thousand, creating the first record of losses since the listing of the company in 2005.

Over the past year, the share price of Under Armour has fallen by more than 50%, from around $40 to $20.

Some people blamed the performance problem on the sale of Curie shoes. At the end of last year, Dick Johnson, the boss of Foot Locker, the largest sporting goods retailer in the United States, stood out and said that the 3 generation of the Curie was not as good as the previous two generations.

To know that Under Armour is highly reliant on basketball shoes in the North American market, the 3 generation of sales in the Cooley makes the Under Armour day, which is not dominant in sports shoes, even more sad.

Insiders pointed out that the 3 generation of "currant price rise and design bias" is not fashionable enough.

On the Internet, one of the 3 generations of Kun Li's grey color matching was called "grandma shoes" by other netizens, and various kinds of spoof pictures appeared.

Others say that Under Armour sneakers are too few to be able to get rid of Curie shoes.

After all, the technical advantages of Under Armour in sports shoes are not comparable to its fabric technology.

And after 10 years of shoes, people are still willing to call Under Armour, a company selling fast drying clothes, which can explain a little.

Under Armour also encountered many problems in North America's sales channels, mainly due to the bankruptcy of the main retail partner Sports Authority, which is also the main reason for the fall of Under Armour in the North American market by 1.1%.

Plank also acknowledges that Under Armour still relies too much on store sales, and the company is in urgent need of accelerated pformation. He has recognized the necessity of personalized e-business platform.

In addition, the company's largest distributor in North America, Dick 's Sporting Goods, has also taken up its own business and established its own brand name and launched a sports tights. This is a landmark product that makes Under Armour thriving. The key is selling cheaper than Under Armour.

Facing all kinds of problems, Plank said in May this year that the company will focus on the areas with potential potential growth in the future, including female sports apparel, sports shoes, international business and so on.

Earlier this year, Under Armour promoted its sport repair pajamas series in Asia.

These pajamas are said to be made of materials that promote sleep and help muscle repair, and therefore the price is higher than conventional products, ranging from $80 to $120.

In the future, Frisk will report directly to Plank, and Plank will continue to serve as the chairman and CEO of the company. Its focus will be on the company's market strategy and long-term growth plan.

According to the company website, Plank has been president of Under Armour since 2010.

So, we may be able to wait a little bit for the new president who sells shoes, and how much he can create a new UA?

More interesting reports, please pay attention to the world clothing shoes and hats net.