In this article we will discuss top Under Armour Competitors in the sports footwear and apparel industry. UA also UAA is International brand that manufactures footwear, sports and casual apparel. Its global head office is situated in Baltimore, Maryland. Under Armour is not only engaged in product development but also promote its product line by sponsorship agreements with professional and college athletic teams, celebrities and with the help of product placements.
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Under Armour Competitors Analysis
Though Under Armor is a huge market share and loyal customer base still it is facing fierce competition in the footwear, apparel and accessories Industry. I have already conducted swot analysis of Under Armour, if you are interested please read it. Let us discuss Under Armour Competition with other brands.
- New Balance
Nike is one of the most recognized and dominant brand in the globe. In the above list of competitors Nike has the largest market share in the sports footwear and apparel industry. Nike brand image, deep pockets and its list of endorsement, for example, Michael Jordan, Kobe Bryant, LeBorn James Roger Federer, Cristiano Ronaldo, Maria Sharapova, forces Under Armour to spend their valuable money on market research and endorsements to increase brand presence and remain competitive. Nike is one of the top competitors of Under Armour and due to its global reach to china, Asian Latin America and EMEA Markets creates a strong competitive advantage over Under Armour Inc.
Adidas and Under Armour are the giants of athletic industry. Adidas is the second largest athletic footwear and apparel brand in the world. Adidas is dominant and having huge market share in European countries. Reebok and TaylorMade are two renowned band names owned by Adidas Group. Initially Adidas was known as a soccer brand but after the ownership of these two brands diversified its market to athletic apparels and equipment. In the last few years, Nike and Adidas performed very well in the North American Market where Under Amour is losing its market share. But UA international market revenue is growing.
People often consider Nike and Adidas as Under Armour competitors. But Puma is also strong competitor of UA. From the past few years Puma is performing very well. It is because of the management decision to involve celebrities as brand ambassadors and creative directors. Being the face of the brand these celebrities designs and promote different shoes brands. Puma has shown faster growth, more earnings and valuation and higher margins than Under Armour brand.
New Balance is another sports footwear and apparel brand competing with Under Armour Inc. New Balance has differentiated itself by adding technical features, for example, blended gel insertion, heal counter, huge availability of shoe sizes and cushion support. New Balance is going after Under Armour and falling behind in revenue only half a billion dollar.
ASICS is the abbreviation of Latin phase anima sana in corpore sano which mean that “healthy soul in a healthy body”. ASICS is a Japanese Corporation that manufactures sports footwear, apparel and sports equipment. The basic aim of ASICS is to become the best brand for every sports enthusiast. ASICS sold $2.9 billion sneakers in FY 2018 whereas Under Armour sold $1.1 billion. Under Armour competitor ASICS has also launched an e commerce website for Indian market which will show the latest collection of ASCIS products. ASICS is not only producing best quality products to satisfy human body and soul but also expanding its market presence.
Skechers is an American Lifestyle and Performance brand that produces athletic and casual shoes for men, women and children. Skechers has two types of footwear division i.e. performance and lifestyle division. Skechers performance division includes Gorun and Gowalk footwear. The lifestyle division comprises relaxed fit comfort shoes, Memory Foam and BOBs shoes. No doubt Skechers is a top competitor of Under Armour.
Fila is an Italian company founded in 9011 in Biella, Italy. But now it is the subsidiary of Fila Korea. The company is known for athletic and casual footwear and accessories. The company uses different online and offline specialty stores to offer its product lines to consumers. One can also buy from Fila website.
Lululemon is a Canadian athletic apparel retailer brand. The company is yoga inspired company for women and men. Unlike Nike and Under Armour that rely for distribution on various retailers like Foot Licker and Dick’s Sporting Goods, Lululemon sells its products on its website and on its own stores. This strategy gave LULU controls over its distribution, pricing and presentation. This unique brand strengths keep it apart from Nike, Adidas and Under Armour. In the FY 2018, Lululemon generated $3.288 billion with a remarkable 24.13% increase from last year revenue. No doubt Lululemon is strong Under Armour competitor
Reebok is a well-known sports footwear and apparel brand acquired by Adidas in 2005. Since Reebok is known for its innovative and comfortable sports product line. The company target all those customers who want to fit and live a sporty and adventurous life. The Reebok sales and performance continued to stagnant and last year sales was only $2 billion. Under Armour came back strongly in the first quarter of FY 2019 and can beat its competitors in the future.
Hanesbrands is an American based manufacturer and marketer of clothing. It is considered one of the strongest apparel bands in United States, Australia, Asia, Europe and South Africa. Several clothing brands like Hanes, Champion, Playtex, JMS, Bali, L’eggs and many more are part of the Hanesbrands Inc. Hanes is manufacturing its 90% apparels in its plants or by dedicated contractors. Hanesbrands Inc. has more than 65000 employees in more than 40 countries. Hanesbrands is a strong competitor of Under Armour.