Under Armour

What does Under Armour own?
Under Armour owns its brand, product technologies (including HeatGear, ColdGear, UA HOVR, UA RUSH, and UA Recover), and its direct-to-consumer retail stores and e-commerce platform. The company does not own separate consumer brands. Its product lines include performance apparel, footwear, accessories, and collaborations with athletes including Stephen Curry and Dwayne "The Rock" Johnson.

Is Under Armour publicly traded?
Yes, Under Armour is publicly traded on the New York Stock Exchange. The company has two classes of stock: Class A shares (ticker: UAA) with one vote per share, and Class C shares (ticker: UA) with no voting rights. Kevin Plank holds the majority of Class B shares, which carry ten votes per share, giving him controlling voting power.

Who founded Under Armour?
Under Armour was founded in 1996 by Kevin Plank, a 23-year-old former University of Maryland football player. Plank developed the company's first product, a moisture-wicking compression t-shirt, in his grandmother's basement in Washington, D.C., and invested $17,000 of his own savings to start the business.

Where is Under Armour headquartered?
Under Armour is headquartered in Baltimore, Maryland, where the company maintains its corporate offices, product development facilities, and global operations center. The company has been based in Baltimore since its founding and operates additional offices and distribution centers internationally.

How many brands does Under Armour own?
Under Armour operates as a single master brand with multiple product lines and technologies. The company discontinued the Curry Brand as a standalone label in 2026, integrating Stephen Curry products back into the main Under Armour line. The company does not own a portfolio of separate brands.

Who owns Under Armour?
Under Armour is owned by its shareholders, including institutional investors such as Vanguard Group, BlackRock, and State Street Corporation. Kevin Plank, the founder, holds the majority of Class B shares, which carry ten votes per share, giving him controlling voting power over the company despite owning a minority of the total economic interest.

Under Armour was founded in 1996 by Kevin Plank, a 23-year-old former University of Maryland football player. Plank developed the company's first product, a moisture-wicking compression t-shirt, in his grandmother's basement in Washington, D.C. He invested $17,000 of his own savings and named the company after the concept of wearing a protective "under layer" of armor during athletic competition.

The company's early growth came from grassroots marketing to college and professional football teams. Plank traveled the country selling shirts from his car, and Under Armour gained traction when it became the official supplier of performance apparel for the NFL Combine. By 1998, the company had $100,000 in revenue. By 2000, revenue reached $1 million.

Under Armour went public on the NASDAQ in November 2005, raising $130 million at $13 per share. The stock moved to the New York Stock Exchange in 2006. Following the IPO, the company expanded rapidly into footwear, international markets, and connected fitness. Revenue grew from $431 million in 2006 to $4.8 billion in 2016, a tenfold increase in a decade.

The late 2010s brought significant challenges. Inventory management problems, accounting investigations, and declining North American sales hit the company hard. In 2016, the Securities and Exchange Commission opened an investigation into Under Armour's accounting practices, which the company disclosed in 2019. In 2021, Under Armour agreed to pay $9 million to settle SEC charges that it failed to disclose material information about its revenue growth.

Plank stepped down as CEO in 2019, handing the role to Patrik Frisk. Frisk led the company through a restructuring focused on inventory reduction and operational efficiency but departed in 2022. Stephanie Linnartz, formerly of Marriott International, became CEO in February 2023 but resigned in March 2024 after just over a year in the role.

Kevin Plank returned as President and CEO in March 2024, announcing a transformation plan to "reset the business and restore the discipline required to operate as a best-in-class brand." The plan includes simplifying the product portfolio, reducing SKUs, exiting underperforming retail channels, and investing in marketing to rebuild brand heat.

In fiscal 2026, Under Armour reported its first-quarter fiscal 2027 results (quarter ended June 30, 2026) showing revenue down 3% to $1.1 billion, with gross margin improving 590 basis points to 54.1%. The company updated its fiscal 2027 outlook to reflect a mid-single-digit revenue decline, while maintaining its adjusted operating income guidance of $140 million to $160 million.

Under Armour's sustainability efforts focus on responsible sourcing, material innovation, and reducing environmental impact across its supply chain. The company has set targets for reducing greenhouse gas emissions and increasing the use of recycled materials in its products.

The company's sustainability initiatives include:

• Using recycled polyester and other sustainable materials in product lines
• Implementing water conservation programs in manufacturing facilities
• Reducing packaging waste through sustainable packaging solutions
• Conducting audits of manufacturing partners for environmental and labor compliance
• Supporting youth sports programs and community fitness initiatives in underserved communities

Under Armour has faced scrutiny over labor conditions in its overseas manufacturing operations. The company publishes a supplier code of conduct and conducts regular factory audits, but has been criticized by labor rights groups for insufficient transparency in its supply chain. The company has committed to improving traceability and working conditions in its supplier factories.

Under Armour has received recognition for product innovation, marketing, and design:

• Sports Business Awards for brand innovation and athlete partnership strategies
• Footwear News Achievement Awards for athletic footwear design and technology
• Design awards for performance apparel and sports equipment innovation
• Marketing excellence awards for brand campaigns and athlete endorsement strategies

Under Armour has faced several significant controversies:

• SEC accounting investigation (2016-2021): The Securities and Exchange Commission investigated Under Armour's accounting practices, focusing on whether the company used "pull-forward" revenue recognition to meet growth targets. In 2021, Under Armour agreed to pay $9 million to settle SEC charges that it failed to disclose material information about its revenue growth practices between 2015 and 2016.
• Kevin Plank leadership controversies: Plank's management style and business decisions have drawn criticism. His relationship with CBS journalist Stephanie Ruhle, who provided unofficial public relations advice to the company, raised corporate governance concerns. Plank's role on President Trump's American Manufacturing Council in 2017 drew criticism from employees and customers, leading to his resignation from the council.
• Curry Brand performance: Under Armour launched the Curry Brand as a standalone label in 2020, modeled after Nike's Jordan Brand. The brand underperformed expectations, and in 2026 the company announced it would discontinue the standalone Curry Brand and integrate Stephen Curry products back into the main Under Armour line.
• Inventory and financial challenges: The company has struggled with inventory management, excess discounting, and declining market share since the late 2010s. Multiple CEO transitions between 2019 and 2024 created strategic uncertainty.
• Supply chain and labor concerns: Under Armour has faced criticism over working conditions in its overseas manufacturing operations and the environmental impact of its production processes.