Apparel retailer Under Armour (NYSE:UA), has unveiled new products that are going to be marketed in 2013. It has launched a new performance tracking device “Armour 39”, which will be available in March. Moreover, it aims at broadening its ‘Spine line’ of running shoes and its high top cleats. A new apparel line called ‘ColdGear Infrared’ was also showcased recently.
Under Armour recently opened its new specialty store “Brand House” in Baltimore. The 8,000 square feet store will be used by the company to highlight and test its innovative products. It will also display a large range of women’s and footwear products as part of the company’s strategy to focus on these them.
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Focus On Women’s Products To Drive Revenues
Under Armour is focusing on women’s products to further fuel its growth. Under Armour’s women’s business accounts for a much smaller percentage of its revenues as compared to its men’s business. The company aims to enhance the retail experience at its stores to target more women customers. At its new store in Baltimore, the company has adopted different styles and colors to resonate with female customers. The new store will hold equal proportion of women and men’s apparel to portray a new brand image to customers.
Under Armour also aims to grow its floor space at key distributors such as Macy’s and Dillard’s with a greater variety of women’s products. We believe these initiatives will benefit Under Armour by helping the company enhance its brand image among women customers.
New Product Portfolio
Under Armour recently unveiled a new performance tracking device called ‘Armour 39’ that helps monitor a user’s workout. The device which includes a chest strap, combines inputs like heart-rate, calories burned and duration of workout to give a combined result that Under Armour terms ‘WILLpower’ – the information is then displayed through either a mobile application, or an Under Amour watch. ((Under Armour Unveils Its New Products For 2013, With A Little Help From Arian Foster And Gina Carano, Forbes, February 12, 2013)) Under Armour will start delivering this product in March.
Under Armour will expand its ‘Spine line’ of footwear products and high top cleats in 2013. In addition, it introduced a new apparel line called ‘Coldgear Infrared’ which helps distribute heat equally around the body, to maintain temperature. ((Under Armour Unveils Its New Products For 2013, With A Little Help From Arian Foster And Gina Carano, Forbes, February 12, 2013))
Under a new ad campaign ‘I Will’ that was launched recently, Under Armour showcases its product innovation featuring various athletes like Arian Foster, Michael Phelps, sponsored by the company. . We believe these efforts will enhance Under Armour’s brand image and make it more attractive to a broad range of consumers, bolstering the company’s growth.
Our price estimate for Under Armour stands at $53, which represents a 5% premium to the market price.Notes:
- Under Armour Launches I WILL™, Its Biggest Ever Global Marketing Campaign, PRNewswire, February 12, 2013 [↩]