under_armour_homepage_tertiary_powerinpink_090914

Under Armour to tackle German market

under_armour_homepage_tertiary_powerinpink_090914According to local news agencies, Under Armour is determined to get into the European market, notably Germany. The company is building up a subsidiary in Munich headed by Alex Blank, a former Adidas executive, as managing director. Apparently the German subsidiary intends to address the German market by next February and to target running and fitness enthusiasts first. The plan is to also tackle the soccer category, and make a broader group of consumers familiar with the U.S. brand. By 2016, UA aims to sponsor a soccer team in the second German league. Blank has said that he wants to see Under Armour among the top three leading sports brands within the next three years.

The plan might sound ambitious – UA is still pretty much unknown outside North America.In 2013, sales were $2.33 billion of which just 8 percent were generated outside the U.S. In the domestic market, however, UA has enjoyed tremendous growth, outpacing Adidas, the traditional #2 in the U.S. market, this year.

Leave a Reply

Your email address will not be published. Required fields are marked *

TOPLINK