Their target market is men and women with a higher income who want to be better at the sport that they play. Under Armour’s product is very cool, flashy and innovative because that’s what their target market is interested in.
Under Armour has the Profitability Rank of 7. It has a higher profitability and may stay that way. Profitability Rank is not directly related to the Financial Strength. But if a company is consistently profitable , its financial strength will be stronger.
Under Armour uses value-based pricing strategy for its products as they are known for their advanced quality. Although the company has a lot of well established brands as competitors but still it is able to charge a little extra than them for its products on the basis of superior innovative materials and fabrics.
Nike is the clear winner However, Nike enjoyed a jump in digital sales of 75% during the quarter, and digital sales made up around 30% of total revenue. Under Armour , on the other hand, was actively reducing inventory purchases due to a sharp fall in demand.
Under Armour is investing a greater proportion of its marketing budget on brand and top-of-funnel activity as it looks to “spend money the right way”.
Nike’s target market is largely consumers ages 15–45. Nike has focused its marketing efforts on the digital space in recent years. The company went high-tech with its push into digital sports and e-commerce. The company introduced the Nike+ running sensor in collaboration with Apple (AAPL).
Under Armour , which is facing a federal investigation into past accounting practices, reported revenue declines for the fifth straight quarter in North America — its biggest market. Just a few years ago, Under Armour was on fire.
Under Armour is facing a perfect storm of issues between accounting investigations, coronavirus weighing on sales, and weak demand in North America. Under Armour is struggling . Weak demand in the North American market, as well as the coronavirus outbreak, have also had a negative impact on the company’s performance.
Revenue was up 1 percent to $5.3 billion (up 3 percent currency neutral).
Under Armour is the 12th most popular clothing & footwear brand and the 22nd most famous . Under Armour is described by fans as: Good quality, Well designed, Trendy, Cool and Good value for money.
Under Armour used to be known primarily for its moisture-wicking t-shirts. In the 21 years since the company was established in founder and CEO Kevin Plank’s grandmother’s basement, the company has expanded its product line extensively to include hats, pants, shoes, gloves, bags, and the like.
1. Founder Kevin Plank created a product to solve a problem he faced, which got athletes excited and talking about. It was so good that in 1998, Barry Bonds, a famous baseball player, was constantly seen wearing Under Armour products, even though they hadn’t sent him any.
The HOVR name (pronounced “hover”) comes from the new foam cushion with a durometer contained by Under Armour’s “energy web,” which is supposed to be responsive and better at directing energy than other designs.
Nike’s competitors. Nike’s top competitors include Anta, lululemon athletica, VF Corporation, Adidas , Reebok , ASICS, FILA, Puma, Under Armour, Skechers and New Balance.
Under Armour launches latest innovation, HOVR , the brand’s new footwear cushioning technology. The tech is a fusion of shoe design and construction, paired with connective technology that takes the tracker off your wrist and puts it on your feet.