," he wrote at the time. Could Plank simply trying to curry favor with President Trump, in hopes he can help pass laws that could make their brand more profitableor at least give them a shout out on Twitter? He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. Shoe sales are suddenly headed in the wrong direction after years of growth, as the company reported a 2 percent decline in footwear sales to $237 million last quarter, compared with a 58 percent increase in the same period the year prior. He wants to make bold decisions and be decisive. You may opt-out by. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Thecompany has posted 23 quarters . 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The free fall in housing market activity just concluded, says Capital Economics, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. [54], According to the Federal Election Commission, Plank has donated to both major U.S. political parties and to individuals of both parties. Kevin Plank, chairman and chief executive officer of Under Armour Inc., speaks during the Women's Wear Daily Apparel/Retail CEO Summit in New York, U.S., on Tuesday, Nov. 10, 2009. Under Armour has had difficulty keeping up with its competitors in recent years. "It's a two-way street," he said. 8 What are the planks of a political party? said he isn't afraid to leave Under Armour. Plank is a former football player who spent his . "We are incredibly proud of this important first step in the evolution of creating more jobs at home. "In this case, perception is reality. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. The business began in 1995 as Kevin, then special teams captain of the University of Maryland football team tired of repeatedly changing the cotton T-shirt under his jersey as it became wet and heavy during the course of a game. In North America, sales were $940 million, a slight decrease from the previous year. (Photo by Chip Somodevilla/Getty Images). [47] He is also a member of the Board of Trustees for Living Classrooms, a Baltimore-Washington based non-profit organization dedicated to the hands-on education of young people using urban, natural and maritime environments as living classrooms". As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. Exploring The Possibilities Of Powered Rails: Fly High Into The Sky! 21 on 50 Most Influential People in Sports Business by, No. Kevin Plank started the sportswear company in 1996 while playing football at the University of Maryland. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. For more, visit Forbes.com/400. [25][26], Plank announced his departure as CEO in October 2019, and was succeeded on January 1, 2020, by Under Armour COO Patrik Frisk. In comparison to a year ago, international revenue fell 3% to $ 431 million. I am stepping down from the council to focus on inspiring & uniting through power of sport. [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. [17] He also asked his former teammates to try on the shirts, claiming that his alternative to a cotton T-shirt would enhance their performance on the field. Air freight was also used to bring goods from abroad to Under Armour. Shai Gilgeous-Alexander, Lauri Markkanen, DeAaron Fox, Tyrese Haliburton and Anthony Edwards are all likely to make their first NBA All-Star game appearance, so lets rank them. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. Curry made his concerns heard as well. Armour and Kevin Plank are for job creation and American manufacturing Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. Plank, who started Under Armour in 1996 in his. Costner earned some criticism for his political views, but that wasnt a chief concern for him. Still, he remained on the advisory board. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. As of October 2021, his net worth was estimated at US$1.8 billion. I'm not going to stop using a good quality product just because they don't have the same views I have. Plank admitted it himself in January, saying his brand needs to become more fashion. One such effort is Under Armours new UAS line, a high-end take on sportswear touted by runway shows and celebrities. "But Under Armour also saw support on social media.Jeff Kennedy, a small business owner from Georgia, felt compelled to respond to the barrage of comments berating Plank, tweeting his appreciation of Plank's support of pro-business policies and vowing to buy more Under Armour stock and clothing.Kennedy said he wanted to stand up for those business owners who are afraid to speak up and risk losing business. 2023 NYP Holdings, Inc. 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Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Plank is in hot water over comments he made praising the president. Meanwhile, Nike, Asics, and Adidas all issued statements against the president's travel ban last week, but Under Armour did not. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. Im a certified personal trainer with over 10 years of experience. "It was important", Plank said, "that this not just be my decision. The strategy was a success, earning the company the world's largest digital health-and-fitness community, with 150 million users. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. Sources said Schmidt was instrumental in recommending Plank join one of President Trumps economic councils in 2017, which turned out to be a public-relations fiasco for Under Armour. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Kirk Cousins is never going to win anything because hes a Costco hotdog. Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. [10], However, he went to University of Maryland, College Park and walked onto the team there. Just this week, three CEOs of top U. S. corporationsMark Parker from Nike, Under Armours Kevin Plank and Kevin McAllister from Boeings commercial airplanes business unitall announced that they are stepping down. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. Plank's Trump praise might make that organic growth even harder, though it appears that Plank is aware of this. Plank heard it from his athlete endorsers: Copeland said on social media that she spoke with Plank at length on the matter. "When they realized there was some backlash and that's not hard to do with social media, it appears quickly, they were quick to come out with a response," Bell said. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. [56] Plank's comments drew criticism on social media. Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake. - CEO Kevin Plank pic.twitter.com/8YvndJMjj1. His mother is a former mayor of Kensington, who went on to direct the Office of Legislative and Intergovernmental Affairs at the United States Department of State under President Ronald Reagan. Total Compensation $1,861,433 View details: Kevin Plank Executive Chairman and Brand Chief: Total Compensation $3,036,429 View details: What is Kevin Plank worth? But both times, Planks comments have been measured. For the latest news, weather, sports, and streaming video, head to The Hill. Color-blocked long sleeve shirts, stretch bombers, and polos are all sleek and fitted, a performance version of the baggier silhouettes often seen in streetwear.Under Armour fell 4.5 percent to $17.99 at 1:05 p.m. in New York. Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. In the letter published by the Baltimore Sun, he wrote that his company stands for equal rights and reinvigorating American manufacturing. Kevin Owen McCarthy (born January 26, 1965) is an American politician who is the 55th and current speaker of the United States House of Representatives, serving since January 7, 2023. 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