Home court advantage is over... Under Armour's sales abroad are up, but its share of the US activewear market has slipped from 6.4% to 5.6%. Its share of footwear fell, too. The stock had been up 55% this year, but just suffered its worst day in 2 years. Someone please protect this house.
Too much “ath” not enough “leisure"... Under Armour doubled-down on super technical apparel to dominate the sweat-wicking athlete lifestyle. But consumers want more fashion weaved into their workout gear so that they're brunch-ready. Now analysts think UA is a “long way” behind its rivals. Here's what they're up to:
- Lululemon: Launching experiential stores and adding branded shampoos.
- Puma: Selena Gomez landed her own collaboration collection.
- Nike: Taking stands on social issues.
- Adidas: Beyoncé is designing sneakers.
Time to rebrand Under Armour... We noticed this quote from founder/CEO Kevin Plank: Under Armour's marketing needs to get "louder." Actually, it's the opposite — UA needs to get smarter. Perfect case: Under Armour's relationship with women. It's invested in female-focused marketing, but brand equity among women has barely budged. More isn't always more.