Under Armour targets $7.5 billion by 2018 - sportstextiles: Lea SportsTextiles

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Under Armour targets $7.5 billion by 2018

18/09/2015
Fast-growing sportswear brand Under Armour has said it is targeting revenues of $7.5 billion by 2018, which would mean growing 25% per year from the $3.1 billion in 2014.

It quoted the figures at an annual investors’ day and said it will continues to invest in footwear, Connected Fitness and growing the business internationally.

CEO and founder Kevin Plank said: " Leveraging our foundation in innovation and enhancing the connectivity of our brand with consumers through Connected Fitness, we are better positioned than ever to exceed consumer expectations as we evolve from a brand dedicated to changing the way athletes dress to one that will change the way athletes live.

“The investments we have made and will continue to make are a testament to the extended runway of growth we see ahead and provide us with the confidence in raising our long-term net revenues growth rate target from 22% to 25%.

“Building off of the incredible consumer demand we are experiencing for the brand, we firmly believe we are just getting started in our pursuit to become not only the definitive performance sports brand, but a truly great global brand."

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