Under Armour CEO Aims at Nike, Adidas, and $10 Billion

Under Armour CEO  Plank had this to humblebrag at a Goldman Sachs conference yesterday: “We believe we’re a … $10 billion brand that is doing $2 billion in business today,” he said. “So we obviously think that there’s a tremendous amount of runway.”

 In the past decade, the only year Under Armour’s sales growth dipped below 20 percent was when the Great Recession whacked the economy in 2009; the company posted an 18 percent revenue gain that year. At its current pace, Under Armour would break the $10 billion mark in the year 2020.

Still, the sportswear market isn’t just going to grow magically by $8 billion. On a market-share basis, Under Armour would have to swipe almost one-third of Nike’s annual revenue to hit $10 billion, a little more than half of yearly sales at Adidas , or some combination of both. Keep in mind that Under Armour—though astonishingly successful—has taken 17 years to hit the $2 billion mark.

link: businessweek