News Briefs – Page 4
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News briefsUA releases a running shoe with no outsole
Under Armour’s newest shoe, the UA Flow Velociti Wind, has eliminated the heaviest shoe component, the outsole, and substituted it with an “all-in-one cushioning system,” called the UA Flow midsole. According to the brand, this took three years of development by its Footwear Innovation Team in Portland, Oregon, and Dow ...
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News briefs
Under Armour opens in downtown Rome
Oberalp, the exclusive distributor of Under Armour in Italy, has opened a second Under Armour Brand House in Rome, this time in the very heart of the city, at 175 Via del Tritone. It measures almost 400 square meters. An older store is located in the Romaest shopping center. With ...
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News briefs
Hummel replaces UA as Southampton’s sponsor
Hummel is going to take the place of Under Armour as the kit supplier of the Southampton football team, which plays in the English Premier League (EPL), for five years, starting with the 2021/22 playing season. UA and Southampton have mutually agreed to terminate their original seven-year contract two years ...
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News briefs
Matrix Fitness will use the iFit platform
Matrix Fitness, the commercial fitness equipment brand owned by Johnson Health Tech (JHT), will equip the touchscreen consoles of its new machines with the iFit connected fitness platform of Icon Health & Fitness. The partnership will give the users of Matrix’ machines access to the iFit library of workouts and ...
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News briefs
Under Armour completes the sale of MyFitnessPal
Under Armour has announced that it has completed the sale of the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses and headquartered in San Francisco. As previously announced by Under Armour in a news release on Oct. 30, the sale has a transaction value of ...
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News briefs
Golf industry veteran Ken Graham to retire at the end of the year
Ken Graham has announced that he will retire at the end of 2020. During his 44-year career in the golf industry, Graham has worked for some of the most recognized golf brands. He started in 1976 at Slazenger when he was just 19 years old, and spent 10 years with ...
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News briefs
Spanish sales agency helps Under Armour
Amazing Solutions, a sales agency in Barcelona, has agreed to support Under Armour in its relations with the numerous Spanish buying groups, starting with the autumn/winter 2021/22 season. Correcting a local press report, Under Armour says it still has a small office in Spain, employing Marc Colomer as sales manager ...
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News briefsUnder Armour launches the Curry brand
Imitating what Nike has done so successfully with Michael Jordan and the Jordan brand, Under Armour has launched the Curry sub-brand and logo in a new line of apparel and footwear products for a variety of sports. It is named after Stephen Curry, the 31-year-old NBA star whom it has ...
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News briefs
Under Armour divests MyFitnessPal, will discontinue Endomondo
Under Armour (UA) has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses, headquartered in San Francisco. MyFitnessPal, an activity tracker that helps around 200 million users in their health and fitness activities, will become a stand-alone company. ...
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News briefs
Adidas ranks high in Forbes’ ‘Best Employers’ list
The highest-ranking sports-related company on Forbes’ annual “World’s Best Employers” list this year was Adidas, at number 11, with Nike two slots behind. The next ones down were Puma (47), Decathlon (82), Under Armour (355), Foot Locker (482) and VF Corp. (505). The e-tailers that offer sporting goods for sale ...
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News briefs
UA to control its EMEA sales from Amsterdam
Under Armour has announced plans to establish a “futuristic” digital hub at its European headquarters in Amsterdam to centralize sales operations and to improve the brand experience. The hub is to have a “combination of physical and digital attributes,” supporting in-person and remote selling. It will combine an “enhanced digital ...
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News briefs
Under Armour expands its restructuring plan
Under Armour is now planning to lay off a total of 600 employees, working primarily in its corporate offices around the world and representing around 9 percent of its total staff, as part of an expanded restructuring program involving pre-tax charges of between $550 million and $600 million to be ...
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News briefs
A special director joins Under Armour’s board after a new shareholders’ complaint
Under Armour has announced that Wes Moore, the chief executive of the Robin Hood Foundation, has joined its board of directors. The foundation has distributed more than $3 billion to organizations that address disparities in education, housing, food insecurity and workforce development. Moore, 41, has worked in investment banking and ...
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News briefs
Under Armour UK partners with Topgolf
Under Armour has announced a new strategic partnership in the U.K. with Topgolf Entertainment Group, the global sports and entertainment community that connects around 100 million fans. The partnership agreement will see the two companies collaborate in the U.K. on a series of projects to engage with fans and players, ...
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News briefs
UA makes new diversity pledges
On its website Under Armour has published new objectives in its quest to “advance diversity and inclusion” in its ranks. In addition to filling 30 percent of its executive posts above the grade of director with “Black, Indigenous, and People of Color (BIPOC)” by 2023, as it has already pledged ...
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News briefs
UA hires senior sales director for EMEA
Under Armour has hired Phil Fox as senior director of sales for Europe, the Middle East and Africa (EMEA). Reporting to the region’s managing director, Massimo Baratto, Fox is now leading wholesale and distribution and refining a digital-first, consumer-centric strategy with UA’s current commercial partners. Fox has about 25 years’ ...
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News briefs
Under Armour reportedly puts up a fitness app for sale
Under Armour is reportedly looking for an investor to take over MyFitnessPal (MFP), a food consumption and exercising app and website that it bought for $475 million in 2015, at around the same time as Adidas’ $220 million acquisition of Runtastic and Asics’ $85 million buy of Runkeeper. MFP offers ...
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News briefs
Under Armour’s athletics segment and supply chain benefit from the crisis
According to its chief executive and chief financial officer, respectively Patrik Frisk and Dave Bergman, Under Armour is emerging from the pandemic with a sharper focus on the athletic-performance segment and an overhauled supply chain. Speaking at the Stifel Cross Sector Insights Conference, they noted that Covid-19 quarantines focused many ...
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News briefs
Centric Brands goes bankrupt
Centric Brands has filed a voluntary application for Chapter 11 bankruptcy protection, with the support of Blackstone and other secured lenders who are providing $435 million in debtor-in-possession financing. The company said the proceedings will not impact its decision to reopen relevant locations. Centric Brands is a licensee for more ...
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News briefs
UA and others commit to pay suppliers for certain cancelled orders
Under Armour has committed to the PayUp campaign, an initiative that urges fashion brands to pay their garment factories for orders that are both completed and in production, and yet cancelled or delayed because of the coronavirus pandemic. The campaign was launched by Remake, a workers’ rights organization, at the ...
