Under Armour, Inc.

Under Armour, Inc. is a global athletic performance brand headquartered in Baltimore, Maryland, and traded on the New York Stock Exchange under the symbols UAA and UA. Founded on the principle of making athletes stronger through performance apparel, the company has grown into one of the world's leading sports brands, operating in over 100 countries with approximately 380 retail stores and more than 15,000 wholesale distribution points worldwide.

Core Business

Under Armour operates across three core product categories: footwear, apparel, and equipment. Footwear represents the company's strategic growth priority, anchored by the Curry basketball franchise as its most valuable asset, complemented by HOVR and Flow cushioning technologies serving the training and running markets. The Stephen Curry partnership provides the brand with unparalleled visibility and credibility in the basketball segment, driving both footwear and apparel sales across professional, collegiate, and consumer channels.

Apparel remains the traditional revenue driver for Under Armour, featuring proprietary technologies such as HeatGear and ColdGear that regulate body temperature across varying climate conditions. These technologies maintain strong market positions in the training and American football categories, where performance-driven consumers prioritize moisture management and comfort. The equipment segment, while smaller in revenue contribution, rounds out the product portfolio with accessories, bags, and wearable technology designed to support athletes across all training environments.

Global Presence

Under Armour maintains a substantial international footprint spanning more than 100 countries, with retail operations through approximately 380 company-owned stores and wholesale partnerships extending to over 15,000 distribution points globally. The company operates an asset-light manufacturing model with 100% outsourced production, primarily through Asian manufacturing partners, enabling capital-efficient operations and flexible supply chain scaling. For fiscal year 2024, the company reported net revenues of $5.83 billion, representing a 3% year-over-year decline as it navigates market normalization challenges in North America.

Key Strengths

Under Armour's primary competitive advantages include a deep performance heritage and loyal consumer base cultivated through decades of presence in professional and collegiate sports, particularly within training and basketball segments. The Stephen Curry partnership delivers unmatched brand visibility and authenticity in the basketball market, creating a powerful platform for cross-category product promotion. The company's asset-light operating model with outsourced manufacturing provides capital efficiency and supply chain resilience, while its proprietary technologies like HeatGear and ColdGear continue to differentiate product offerings in performance apparel markets.