At Under Armours annual shareholder meeting at Baltimores ESPN Zone, CEO Kevin Plank said the company plans to be more selective in launching new products, signing new endorsement
deals, opening new retail stores and investing internationally in 2009.
“The days for just signing deals because we think theyre nice are over,” Plank said, according to The Baltimore Journal.
Plank pointed to Under Armours recent five-year pact with
Hall of Famer Cal Ripken Jr. and Ripken Baseball as a smart deal for
the company.
But Plank and other executives also discussed the companys five
“growth levers.” They include the mens, womens, footwear,
international and direct-to-consumer businesses.
“We will control what we can control and that's the way we will grow,”
he said. “We're looking at how we're going to improve and move forward.”
Plank, according to the newspaper, also pointed to the companys ability to maintain full-prices on its
products and Under Armours strong ties with retail partners.
“The brand has not yet built its defining product,” Plank said. “It is innovation that will tell our story.”
Under Armour executives also said footwear sales will eventually outpace apparel.
“We believe we are going to be here for a very long time and believe
the consumer continues to vote for us,” Plank said in an interview
with Baltimore Business Journal following the meeting. “Thats a vision thats much bigger than
[quarter] 2, Q3, Q4 of 2009.”
