Kevin Plank used to play football back in the day. Noticing his football teammates’ sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabric from women’s undergarments. In the mid 1990s he sold his first shirts from his grandmother’s basement, exaggerating to early customers to make the company sound bigger. Plank was pretty much broke when he started selling signature clothing under the Under Armour brand. He took all the cash he had saved, about $20,000, and racked up an additional $40,000 of credit card debt to fund the company. Soon after, he made a landmark sale of $17,000 to Georgia Tech University, and in a wave of momentum, made sales to two dozen NFL teams. From there, he went on, in just a few years, to cultivate millions in sales and hire hundreds of employees. Today, Under Armour does nearly $2 billion in retail sales, and has around 6,000 employees. It is so crazy to see people come up with these ideas in such a small setting and turn it into millions and sometimes billions of dollars. Today, Kevin Plank’s net worth is just over $2 billion. From “messing around” with women’s undergarments to having one of the most recognizable brands on the planet, it is safe to say that Kevin Plank really knows how to invest his money efficiently and run a business. You can spot the logo anywhere and immediately recognize what it is and what it stands for. You know that Under Armour makes athletic wear, and most of the time it is over priced. But with all that being said, people still continue to buy the products because they like the quality and style of the brand. As of 2017, Under Armour had 166 stores in the United States alone. If every store sold at least $100 worth of product every day, that is about $16,000/day… not a bad living huh? Under Armour will continue to grow and satisfy their customers for many years to come
BoweryJE22