Nike, Inc is the most commonly and worldwide famous brand for its unique design and quality. Nike is an American MNC (multi-national corporation) that designs, develops, produces, markets, and sells its quality products worldwide. The sales include accessories, apparel, equipment, footwear, and services. The company set up its headquarters near Beaverton, Oregon (it is in the Portland metropolitan area). Nike was founded on 25 January 1964, which was 58 years ago with the brand name Blue Ribbon Sports, Inc. It was from 1964 to 1971. Nike, founded by Bill Bowerman and Phil Knight is a well-known brand name that is heard in the market worldwide. As of 2020, Nike has more than 76,700 employees working at different locations and stores under different departments. In 2018, Nike was ranked 89th in the total revenue. It is on The Fortune 500 list of the largest United States corporations. Here we will see about Does Nike Own Under Armour?
Under Armour, Inc is another American company famous for its manufacturing of sports apparel, footwear, and casual apparel. It set up its headquarters in Baltimore, Maryland. Under Armour was founded in 1996, which was 26 years ago. The products are available worldwide. It produces products such as footwear, clothing, sportswear, and toiletries.
Its additional offices are in the following locations.
- Toronto, Shanghai (Chinese headquarters), Seoul, Santiago, Sao Paulo, San Francisco, Portland, Pittsburgh, Paris, Panama City (International headquarters), New York City, Munich, Mexico City, London, Jakarta, Houston, Hong Kong, Guangzhou, Austin, Amsterdam (European headquarters).
Does Nike Own Under Armour?
More about Nike and Under Armour
Nike and Under Armour are two different companies that are known worldwide. Nike and Under Armour are publicly-traded companies where Nike trades under NKE and Under Amour trades under the symbol UA and UAA. The new annual filings say Nike has a total revenue of $34.35 billion, whereas Under Armour has a total revenue of $4.25 billion.
What makes Nike and Under Armour different?
Nike and Under Armour are distinct companies that are famous for trading the same accessories. What makes both brands different is that Under Armour is a new brand whereas Nike is the oldest. Nike is in the industry for decades with all new technologies and innovations. Nike shoes are so comfortable and stable when compared to Under Armour. What is common in both is that they produce smart shoes currently on the market.
Nike shoes first came into action in 1964 under a different brand name, later in 1971, it changed its name to NIKE along with its logo. Ever since then, Nike has become the top competitor of top brands like Reebok, Puma, and Adidas. These brands are famous for bringing in new designs and for their level of comfort. Under Armour is the newest company that started in 1996 and went public in 2005. Under Armour brought the attention of young minds and athletes with its unique style and looks. The main thing that attracts people is the affordable range, unlike NIKE. Under Armour invests in key areas that make the company stronger in the coming years.
Main Difference between Nike and Under Armour
- Under Armour is the newest brand in the market whereas Nike is the oldest.
- Under Armour, shoes fit the right size. Nike shoes run smaller than the regular size.
- The technology used by Under Armour is Threadborne technology. This technology is used to control moisture and provide breathability. Whereas Nike uses Flywire technology, in the upper cushions for providing high support and to provide breathability.
- The midsole comprises different materials. Under Armour uses HOVR and Micro G cushioning. It is used for shock absorption and to provide maximum comfort. Whereas Nike uses Nike React Form and ZoomX foam. These are used for shock absorption and to make the shoe light.
- Under Armour provides shoes in an affordable range, whereas Nike’s shoes are expensive.
- Nike shoes are stable and comfortable as compared to Under Armour shoes. Under Armour provides stability but not much comfort that Nike provides. Nike is the best when it comes to running, that is the level of comfortability provided by Nike is more than that of Under Armours.
Nike and Under Armour are the two most famous brands that manufacture and sell sports accessories. These two brands are different and owned by different people. Under Armour is the newest brand, unlike Nike. Nike provides a huge category range and Under Armour is still working on expanding its category range. And clearly, Nike does not own Under Armour.
Frequently Asked Questions
- Who takes the decision and owns a major share of Under Armour?
Kevin Plank is the CEO of Under Armour. 65 percent of the voting power with his ownership stake (records as per InvestorPlace) is owned by him. That is, he has the complete right to decide what and what not to do, like selling the company to other companies like Nike.
- What are the products Nike mainly focuses on?
The brand focuses mainly on Athletic footwear & apparel, Athletic & recreational products, and Sports equipment, with revenue of over US$37.4 billion, as per 2020 records.