Current Situation
Under Armour is taking over North American sportswear market. It took over Adidas, and Nike is the only sportswear that’s in ahead of Under Armour. Although Under Armour’s footwear sales declined in Second Quarter 2010. It also declined by 4.5% in 2009 second Quarter; However, accessories sales went up by 28%. In 2009, Under Armor spend almost 13% of its revenue on marketing. According to Jatia who is Under Armour’s VP of direct-to-consumer, Under Armour disrupted the market with 23 consecutive quarter growths. In 2017, North America’s accounted for 76% of Under Armour net revenue. The net revenue Under Armour generated in the United States for the year 2017, 2016 and 2015 are $3.6 billion, $3.8 billion and $3.3 billion respectively.
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UA’s net revenue increased to $4,976.6 million in 2017 from $4,825.30 million in 2016. Under Armour’s license revenue also increased to $116.6 million by 16.8% in 2017, and it was $99.8 million in 2016. However, gross profit decreased to $2,238.7 million from $2240.60 million in 2016 because of higher promotions and air freight and a higher percentage of sale in UA’s international business.
On February 28, 2018, Under Armour’s Chief Revenue Officer Karl-Heinz (Charlie) Maurath announced that his retirement will be effective as of March 31, 2018. Maurath started with Under Armour in 2012, and two years later, he was Promoted as chief of revenue officer. He leads all UA’s the global region such as North America, Asia-Pacific, EMEA and Latin America. While Maurath was in office, Under Armour grew into a $5 billion global brand. Its revenue in North America also grew at a 50% CAGC.
Before Bergman Started working for Under Armour, he was CPA for at Ernst & Young LLP and Auther Andersen LLP. Bergman joined Under Armour in 2005, He was the Corporate Controller during 2006 to October 2014. He was the Vice President of finance from February 2016 to January 2017. In November 2017, he was appointed