Under Armour (UA) is turning to a new lineup of wearable technology products and digital apps in its long-term play to overtake Nike Inc. (NKE) atop the global sports apparel industry. Kevin Plank, Under Armour’s founder and chief executive, was on hand at the Consumer Electronics Showcase in Las Vegas last week as Under Armour unveiled the first major products in its “Connected Fitness” series.
In the short term, Nike’s status as the dominant force in worldwide sportswear isn’t in doubt. The brand reported revenue of more than $30 billion in 2015 and earned $7.69 billion in sales in its most recent fiscal quarter alone. But a strong entrance into the wearable technology space, coupled with increasingly robust apparel and footwear sales, could cement Under Armour as the greatest threat to Nike’s grip on the market. For the full article click here
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