The History of Under Armour- A Mastermind for Performance Apparel Part 3
Current Events
Presently, 2005 is proving to be another exceptionally innovative year starting with 60 products for a new women’s line called UA Metal that was inspired by their ‘Duplicity Sportsbra”. And if that is not enough, they have introduced the UA Tech line, a more technical savvy and advanced version of their original line Loosegear. To reach further into the marketplace they are now targeting individual sports starting with running. They are introducing UA Streaker a line developed with technical advancements for runners.
The performance apparel industry is now a multi billion dollar business. This industry is consistently entering new markets including everyday wear and even business suit apparel. It is incorporating the performance materials to make the everyday more comfortable.
Creating Something Different
The question on many minds including that of direct competitors is how big will they grow? In the same understated way Kevin Plank began he still remains realistic yet optimistic. With 546 Under Armour employees and top competitors like Nike and Adidas, he has approximately 75% of the market share; they are definitely on the right track. The plan for the future is to target the women’s market with a more broad approach.
It is expected that Under Armour will gross an estimated $200 to $250 million this year, so many business analysts are speculating what the next big move will be. As a privately held company, many believe that Under Armour will be acquired by one of their larger competitors. On the other hand, a company only needs to gross $250 million to be eligible to go public and attract the appropriate investors and they are almost there.
Under Armour apparel has been a company that has flown under the radar to become the leading success story in the textile industry for performance apparel. Each milestone and creative achievement is a testament to the true meaning of designing what the consumer demands. It is impossible to predict what the future will hold for this extraordinary company but is safe to say that what they have achieved is a spot on the red carpet of industry beside the big players.
Tags: Performance Apparel
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