Under Armour's net sales worldwide in 2024, by product category

In the fiscal year ended March 31, 2024, Under Armour's apparel segment generated approximately 3.79 billion U.S. dollars in net sales, making it the company's largest product segment. 

Under Armour

Baltimore, Maryland-based Under Armour, founded in 1996 by CEO Kevin Plank, started out as a maker of compression t-shirts and gradually evolved into a global designer and distributor of high-performance athletic apparel, footwear, and accessories. In 2024, the company generated global net revenues that amounted to about 5.7 billion U.S. dollars and employed around 15,000 people.

Under Armour has established quite a track record since going public more than a decade ago, when sales were less than 300 million U.S. dollars. At the time, the company was not even on the radar of large sector players such as Adidas and Nike. Over this span, revenues have experienced solid growth, although this growth had flattened out between 2017 and 2019. That being said, UA's sales figures had shot up once again in 2021 after the trying pandemic year of 2020.

UA's marketing

Another reason for the company's impressive growth is Under Armour's strong marketing strategies, for example, long-term marketing agreements with up-and-coming sports personalities.

Two such marketing agreements that have yielded significant returns lately include one with Stephen Curry of the Golden State Warriors, and one with Jordan Spieth (winner of the Masters and U.S. Open golf tournaments). These advertising partnerships, along with other new social and digital campaigns as well as long-standing tie-ups, are helping Under Armour maintain its “cool” factor with young and influential consumers.