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Under Armour Company Profile, News, Rankings | Fortune

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Under Armour

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Patrik Frisk says the company’s get-out-the-vote campaign was consistent with Under Armour's focus on equality.

Under Armour CEO says the events of 2020 led the company to lean into its values

Under Armour President and CEO, Patrik Frisk

Leadership

Patrik Frisk discusses UA's get-out-the-vote campaign.

Under Armour CEO on leaning into company values

Watch: Under Armour CEO says the events of 2020 led the company to lean into its values

virtually every ceo I've talked to in the last year has expanded their sense of responsibilities, whether it's to their employees, to their customers, to their communities, to the environment. Uh And you can see that expressed in various ways what we want to talk about in the next hour is how that's going to change business going forward as we are now coming out of the pandemic, what is going to be different, how and why? Uh and and this is the perfect uh the perfect group to discuss that. I'd like to start off with Patrick, frisk the ceo of under armour who uh we've had some conversations about this in advance. I know he's been thinking about it a lot, so Patrick, maybe you can kick us off through what I think. You know, we sat here before that if somebody would have asked me whether I was going to be partaking in a conference to discuss this. Uh you know this topic today, I would have said, what are you talking about? I'm here to run a business, but but you know, it is it has accelerated during the pandemic and I think uh um it isn't, we're talking a lot about the fact that it isn't just north american, its global for under armour, we see it happening across the world. Um It accelerated dramatically, I think part of it was because of where people were in terms of of uh being at home and and events were uh just uh accelerating. Uh and when they did, people saw it happening and they were able to kind of get drawn into it and that includes an under armour, for example, everybody that works at under armour, our consumers and our stakeholders. So I think for us it was a moment where we decided to uh really lean into our values of the company and we did. It s it comes down to it, especially in the back half of the year when when the entire election was happening here in the US with a run to vote campaign, for example, where we we felt they need to participate because, you know, one of our values is standing for equality and we leaned into that and just simply facilitated for people to be able to partake in the elections, which was incredibly appreciated by the way. So I think that was the first time that we as a company really externally took a broader stance and we feel really good about that. And I think um you're going to see more of that from from companies going forward. There is one of the problems Patrick, as you well know, is that many commentators and particularly my former colleagues on the editorial page of The Wall Street Journal uh tend to interpret all this as some sort of a political game political posturing, somehow playing to the political environment. I know that's not the way you see it. No, it's not. It's absolutely not. And I think again, values, if you have a value that says stand for equality, and if you're a brand like under armour, that is was born in the field of sport, you know, you think about democracy, right? I mean, it's the ultimate, ultimate participation sport, right? So I think for us it's simple. Does that mean we're going to speak out on everything? Probably not, but when it matters to us and it's in line with our brand and our values and our purpose and our purpose at under armour's we empower those who strive for more. We're most likely going to take a stand. And it's really the becoming the expectation for us, not just internally, but also externally. And, and I think it is, it's okay, you know, we're going to make choices of what we speak up on, which is also fine. I think it's gonna be things that really matters to us.

 SPEAKER 1: Patrik, Under Armour is a shoe and apparel company. But the company, before your time as CEO, made a lot of investments in digital fitness, and you've been busy consolidating some of that. Could you share that with everyone, please? PATRIK FRISK: Yeah, sure. The connectivity is becoming really important for the consumer. And we've seen that accelerate now during the pandemic. Under Armour's here to try to make the consumer that we're focused on better. And we've seen that, for example, in our connected shoes, we've seen the interest for that increase dramatically. We've seen our 1 millionth shoe now connected by our app. And what we're working hard to do is to make sure that we're creating one ecosystem for the consumer. The connectivity aspect is important because, for us, it's about helping the consumer to get better. So what we can do in that connected experience is truly help coach them as well, which is unique to the Under Armour experience. And we're seeing the choice for the consumer in terms of why they buy one pair of our shoes, for example, that are connected. But 2/3 of the consumers that have bought our connected shoes are interested in these shoes simply because of their connectivity. So for us, it's an incredibly important part of our future. SPEAKER 1: Tell everyone specifically, you have several digital brands. I mean, you have Under Armour itself. You have MapMyRun. You're selling MyFitnessPal, which Under Armour had bought, or you already have sold, I'm not sure which. Why the need to consolidate? PATRIK FRISK: Yeah, I think for us, again, what we've seen is we've had different platforms. And over the last four to five years, what we've been able to do is really understand data, what matters in terms of the data that's going to be working for us. And ultimately, what we're here to do is to make the consumer better and to do that through either the experience or the product, the shirts and shoes. And what we've seen is our ability to connect is really the differentiator for us, so our connected footwear, for example. So ultimately, for us, what we're doing now is creating one ecosystem. And we feel that we're going to be able to do that best through our MapMyRun app. And the MyFitnessPal divestiture kind of helps us get there faster. So for us, it's all about building that one environment now for the consumer where we can not only help connect them in terms of the product, but also make the product accessible and available to them. 

Under Armour has one million customers connected through their shoes.

A connected ecosystem of sportswear

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Under Armour

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