Kevin A. Plank, the prominent founder and executive chairman of Under Armour, holds majority control and a significant stake in the company, with ownership of over one billion dollars in Class A and Class C shares.
With an emphasis on performance, innovation, and technology, Under Armour offers a wide range of athletic apparel, footwear, and accessories, catering to individual consumers, athletes, and B2B clients.
Through diverse revenue streams, including sales, licensing, and sponsorships, Under Armour maintains its financial stability and continues to be a leading force in the athletic apparel industry.
Key Takeaways
- Kevin A. Plank is the founder and executive chairman of Under Armour, and he holds a significant stake in the company.
- Under Armour offers a comprehensive range of athletic apparel, footwear, and accessories, emphasizing performance, innovation, and technology.
- The primary source of revenue for Under Armour is the sale of its athletic products through various channels, including company-owned retail stores, e-commerce websites, and third-party retailers.
- Under Armour serves a diverse customer base that includes individual consumers, athletes (professional and amateur), and sports teams/organizations.
Kevin A. Plank: Founder and Executive Chairman
Kevin A. Plank is the founder and executive chairman of Under Armour. As the founder, Plank played a pivotal role in shaping the company's vision and establishing its core values. He has been instrumental in driving Under Armour's growth and success since its inception.
Plank's leadership and entrepreneurial spirit have been crucial in positioning Under Armour as a global leader in athletic apparel and footwear. As the executive chairman, Plank continues to play an active role in the company's strategic decision-making and long-term planning. His deep understanding of the industry and relentless focus on innovation have contributed to Under Armour's sustained growth.
Plank remains committed to the company's growth plans, which include expanding market share, exploring new product categories, and leveraging technology to enhance customer experience.
Ownership Structure: Class A and Class C Shares
Continuing the discussion on the ownership structure of Under Armour, the company has two classes of shares – Class A and Class C shares.
- Class A shares:
Class A shares are primarily held by insiders, including founder and executive chairman Kevin A. Plank. These shares carry one vote per share and are convertible into Class C shares. Class A shares have superior voting rights, giving shareholders more control over the company's decisions.
- Class C shares:
Class C shares are primarily held by the public and institutional investors. These shares do not carry voting rights and are not convertible into Class A shares. Class C shares offer investors the opportunity to invest in Under Armour without having voting power.
The ownership structure of Under Armour, with its Class A and Class C shares, allows for a balance between insider control and public ownership, providing different investment options for shareholders.
Stake Value: Over One Billion Dollars
The stake value of Under Armour, the athletic apparel company, is estimated to be over one billion dollars. This substantial stake valuation has a significant impact on the company's ownership and leadership structure.
Kevin A. Plank, the founder and executive chairman of Under Armour, holds a significant stake in the company, owning 15.6% of outstanding Class A shares and 13.2% of outstanding Class C shares. Plank's stake in the company is worth over one billion dollars, giving him considerable influence. With 64.7% of the total voting power in Under Armour, Plank's influence is instrumental in shaping the company's direction and decision-making.
His substantial stake value underscores his commitment and confidence in the brand's future success.
Voting Power: Majority Control
With his significant stake in the company and 64.7% of the total voting power, Kevin A. Plank exercises majority control in shaping the direction and decision-making of Under Armour. This gives him significant influence over the corporate governance structure and voting power dynamics within the company.
The majority control of Kevin A. Plank can be observed in the following ways:
- Strategic decision-making: Plank has the ability to make key strategic decisions that determine the future of Under Armour.
- Board composition: Plank can influence the composition of the board of directors, ensuring that individuals aligned with his vision are appointed.
- Executive appointments: Plank can also appoint key executives who will help execute his strategic vision for the company.
This concentration of voting power in the hands of one individual highlights the significant role that Plank plays in shaping the future of Under Armour.
Key Figures in Leadership: Patrik Frisk, Douglas E. Coltharp
Patrik Frisk and Douglas E. Coltharp are key figures in the leadership structure of Under Armour. Frisk serves as the President and Chief Operating Officer (COO) of Under Armour, overseeing the day-to-day management and execution of the company's strategic initiatives. With his extensive experience in the retail industry, Frisk brings valuable expertise to drive growth and operational efficiency.
On the other hand, Coltharp holds the position of Chief Supply Chain Officer, responsible for managing the global supply chain operations of Under Armour. He focuses on optimizing the company's supply chain processes, ensuring timely delivery of products to customers.
Both Frisk and Coltharp contribute to the corporate governance of Under Armour by providing leadership and expertise in their respective areas, contributing to the overall success of the company.
Product Range: Athletic Apparel, Footwear, Accessories
Under Armour offers a diverse range of athletic apparel, footwear, and accessories. Their product range expansion includes the following:
- Athletic Apparel:
- Performance wear
- Outerwear
- Compression gear
- Sports accessories
- Footwear:
- Athletic shoes
Under Armour's product lineup caters to various sports and athletic activities. The company emphasizes performance, innovation, and technology in its products. They also provide connected fitness products and apps to track and improve athletic performance.
In a market competition in the athletic apparel industry, Under Armour's comprehensive product range allows them to cater to a wide range of customer needs and preferences. By offering a variety of high-quality athletic apparel, footwear, and accessories, Under Armour positions themselves as a leading brand in the sports industry, appealing to both professional and amateur athletes, as well as individuals seeking high-performance sportswear.
Revenue Streams: Sales, Licensing, Sponsorships
Under Armour generates revenue through various streams, including sales, licensing agreements, and sponsorships.
The company's primary source of revenue comes from the sale of athletic products and accessories, which are sold through company-owned retail stores, e-commerce websites, and third-party retailers.
In addition to sales, Under Armour also earns income from licensing agreements, where they allow other companies to use their brand name and logos on products.
Sponsorships and endorsements are another significant revenue stream for Under Armour, as they partner with athletes, sports teams, and organizations to promote their products.
These revenue streams have contributed to the financial stability of Under Armour and have allowed the company to expand internationally and form brand partnerships to further grow its business.
Customer Segments: Individual Consumers, Athletes, B2B Clients
Under Armour serves a diverse range of customers, including individual consumers, athletes, and B2B clients. Their customer segmentation allows them to tailor their marketing strategies to each group's specific needs and preferences.
For individual consumers:
- Under Armour offers a wide range of athletic apparel, footwear, and accessories to meet their performance and style requirements.
- They focus on creating innovative and technologically advanced products that enhance athletic performance.
- Through their marketing efforts, they emphasize the benefits of their products for individual consumers, highlighting features such as comfort, durability, and sweat-wicking properties.
For athletes:
- Under Armour caters to both professional and amateur athletes by providing high-performance sportswear that meets the demands of rigorous training and competition.
- They collaborate with athletes to develop products that enhance their performance and support their unique athletic needs.
- Under Armour's marketing strategies for athletes focus on showcasing the endorsement of elite athletes, as well as the technological advancements in their products.
For B2B clients:
- Under Armour partners with sports teams and organizations to provide custom apparel and uniforms.
- They work closely with these clients to design and manufacture products that align with their brand identity and performance requirements.
- Their marketing strategies for B2B clients emphasize the benefits of partnering with Under Armour, such as access to high-quality products, customization options, and brand association.
Frequently Asked Questions
How Did Kevin A. Plank Become the Owner of Under Armour?
Kevin A. Plank became the owner of Under Armour through his role as the founder and executive chairman of the company. His vision, leadership, and significant stake in the company have played a pivotal role in Under Armour's success.
What Is the Difference Between Class a and Class C Shares in Under Armour's Ownership Structure?
The difference in Under Armour's ownership structure lies in the distinction between Class A and Class C shares. Each class carries different voting rights, with Class A shares having more voting power than Class C shares.
Are There Any Other Major Stakeholders in Under Armour Besides Kevin A. Plank?
Other major stakeholders in Under Armour include executive officers such as Patrik Frisk, the President and Chief Operating Officer, and Douglas E. Coltharp, the Chief Supply Chain Officer, along with various directors.
How Does Under Armour's Stake Value Compare to Other Companies in the Athletic Apparel Industry?
Under Armour's stake value in the athletic apparel industry is significant, given its market share and financial success. However, a direct comparison to other companies' stake values requires in-depth analysis of their respective ownership structures and financial standings.
What Percentage of the Total Voting Power Does Kevin A. Plank Hold in Under Armour?
Kevin A. Plank holds a significant stake in Under Armour, with 64.7% of the total voting power. This ownership structure gives Plank considerable influence over the company's strategic decisions and direction.
Conclusion
In conclusion, Kevin A. Plank, the founder and executive chairman, holds a significant stake and majority control in Under Armour. The company's ownership structure includes Class A and Class C shares, with Plank's ownership equating to over one billion dollars in value.
Under the leadership of Plank, along with key figures such as Patrik Frisk and Douglas E. Coltharp, Under Armour has established itself as a leading athletic apparel and footwear company. The company serves diverse customer segments with its innovative and performance-focused products.