Unit IV Project

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RUNNING HEAD: UNIT IV PROJECT: UNDER ARMOUR 1 Unit IV Project: Under Armour Travis D. Musser Columbia Southern University

UNIT IV PROJECT: UNDER ARMOUR 2 Unit IV Project When it comes to athletic apparel there are few brand names that come to everyone’s mind. When asked, most people will be able to list three brand name companies: Nike, Adidas, and Under Armour. Under Armour was incorporated in 1996 by Kevin Plank and two years later was headquartered in Baltimore, Maryland (MarketLine Company Profile: Under Armour, Inc., 2021). Under Armour’s major products and services include performance apparel, footwear and accessories for men, women, and youth. They are best known for their cold gear and heat gear. They also provide app services such as MapMyFitness and are involved in many apparel contracts with professional sports teams. With all the success over the last two decades, Under Armour has had to have a strategy and mission that keep them competitive in a tough industry as well as short- and long-term goals that provide direction for the company. To better understand Under Armour’s strategy, their vision and mission statements need to be analyzed. According to Comparably (N.D.), Under Armour’s mission statement is, “To make all athletes better through passion, design, and the relentless pursuit of innovation”. Their vision statement is, “to inspire you with performance solutions you never knew you needed and can’t imagine living without (Comparably, N.D.)”. Under Armour’s ongoing strategy follows closely with their mission statement. Their strategy for long-term growth is to continue ongoing product innovation and investment in distribution channels and international expansion. The organizational structure is made up of a board of directors that convene for organization decisions regarding company direction and strategy. Positive aspects about Under Armour’s strategy, mission, and vision are it provides a clear and concise direction that the board of directors wants the company to move into. They are determined to continue innovating new products and services to provide to consumers as well as expanding their international sales

UNIT IV PROJECT: UNDER ARMOUR 3 which has been a success for them as international sales have been up 21% to 35% in areas such as Latin America, Europe, the Middle East, and Asia (David, David & David, 2019). Under Armour’s short-term and long-term goals are clear. Their short-term goals are to restructure by opening sublet stores and focusing more on direct-to-consumer options as their wholesale retailers have taken a hit in the recent years due to bankruptcy and the coronavirus. Their long-term goals are to focus on increasing sales of their products through ongoing product innovation, investment in our distribution channels and international expansion (MarketLine Company Profile: Under Armour, Inc., 2021). Under Armour is facing a difficult time as their wholesale retailers are struggling due to the coronavirus and some facing bankruptcy. Their brand is also struggling to compete with other name brand competitors such as Nike, Adidas, and Columbia and they need to continue to innovate new products and services that are competitive in the industry. Under Armour should focus more on getting products to consumers directly and not rely solely on wholesale retailers especially with the growth of online shopping. Their international sales revenue continues to grow but does not match their sales withing the continental United States and does not close the gap with the revenue lost over the past few years. Increasing international sales through more targeted marketing would benefit them by closing the gap between revenue lost in the United States and revenue gained Internationally. Under Amour’s mission and vision statements can also be improved by becoming more unique. Having a concrete strategy and mission in place is pivotal in the growth and success of any organization and it requires constant re-evaluation even for a top tier organization such as Under Armour as their recent struggles have shown that the clothing industry is a competitive one and will continue to be competitive for the foreseeable future.

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UNIT IV PROJECT: UNDER ARMOUR 4 References Comparably. (N.D.). Under Armour mission, vision & values. Comparably. Retrieved from https://www.comparably.com/companies/under-armour/mission David, F. R., David, F. R., & David, M. E. (2019). Strategic Management (17th Edition). Pearson Education (US). https://online.vitalsource.com/books/9780135203736 MarketLine Company Profile: Under Armour, Inc. (2021). In Under Armour, Inc. MarketLine Company Profile (pp. 1–34). Retrieved from https://web-s-ebscohost- com.libraryresources.columbiasouthern.edu/ehost/pdfviewer/pdfviewer? vid=4&sid=44e4399b-e1ad-4b37-94b1-370e754b591d%40redis

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