Innovation drives Under Armour’s rapid rise - sportstextiles: Lea SportsTextiles

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Innovation drives Under Armour’s rapid rise

31/01/2014
Revenues at Under Armour jumped by a third in the fourth quarter of 2013 and 27% for the full year to $683 million, driven by the US sportswear brand’s increasing focus on innovation including the new ColdGear Infrared products. 

Apparel net revenues increased 27% to $1.76 billion, led by HeatGear and fleece as well as ColdGear Infrared, which uses ceramic coatings to control temperature.

Under Armour CEO Kevin Plank said: "By any measure, 2013 was a banner year for the UA Brand. We surpassed $2 billion in net revenues for the year, which culminated with our 15th straight quarter of at least 20% total growth.”

Footwear net revenues increased 25% to $299 million during 2013, reflecting expanded offerings in the running and cleated businesses. Accessories net revenues increased 30% to $216 million, primarily driven by headwear and gloves. 

Mr. Plank concluded, "We have tremendous momentum across our business and we will leverage this strength to fuel our global growth ambitions in 2014.Today from Grand Central Station in New York City we are providing the first glimpse of our latest global brand holiday, 'This Is What Fast Feels Like,' featuring our award-winning SpeedForm Apollo running shoe and our latest apparel technology, ArmourVent."

The global sports apparel market is expected to grow at a compound annual growth rate of 4% to reach $178 billion by 2019, according to research firm Trefis.



Related stories:

Fast-growing Under Armour reports another revenue leap 25/04/2014
Under Armour amplifies global expansion efforts 20/03/2014

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