"Commentary by CEO Kevin Plank in a polarized political climate and the pointed response by Stephen Curry make it nearly impossible to effectively build a cool urban lifestyle brand in the foreseeable future," Poser wrote in a research note Wednesday. A $10 million donation from Baltimore-based business magnate and philanthropist, philanthropist, and Under Armour executive Kevin Plank, announced on Monday, will be used to support CollegeBound. [16] He also attempted to name his company Body Armor, but efforts to trademark that name were also unsuccessful. Plank is in hot water over comments he made praising the president. 23 Kevin Plank", "The 100 most influential leaders in marketing, media and tech", "Under Armour To Receive FN's 2015 Brand Of The Year Award", "America's Most Powerful CEOs 40 And Under", "Under Armour CEO Kevin Plank named one of SI's most powerful people in sports", https://en.wikipedia.org/w/index.php?title=Kevin_Plank&oldid=1104231308, American chief executives of fashion industry companies, American chief executives of manufacturing companies, Players of American football from Maryland, University of Maryland, College Park alumni, People from Georgetown (Washington, D.C.), Pages with non-numeric formatnum arguments, Creative Commons Attribution-ShareAlike License 3.0, No. Put simply, Under Armour has been unable to establish itself as a cool street brand. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. Under I write about women who run companies, countries and currencies. He is building a 4 million-square-foot headquarters for Under. The concept for Under Armour was based on Plank's personal experience playing college football. It wants to have a close relationship with the current administration to advocate for issues that are . "[I]tis exceptionally difficult to create the cool factor that will drive lifestyle sales; it must happen organically.". He stepped down from the council following President Trump's comments on violence in Charlottesville, Virginia, saying Under Armour "engages in innovation and sports, not politics". [37] The building was originally built in 1914 to store port cargo and later served as a community center and studio for the television series Homicide: Life on the Street; it closed in 1999. [41] The limestone aquifer on Plank's farm produced water fit to distill whiskey,[18] so Plank and business partner Bill McDermond founded Sagamore Spirit to restore Maryland's whiskey distilling tradition. [10], However, he went to University of Maryland, College Park and walked onto the team there. World-renowned athletes like Olympic . Gambling problem? [1] Contents 1 Early life 2 Career [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. The competition got its name from his Cupid's Valentine rose business he began while attending the University. Well see how UAs does on Tuesday. Politics is infernally tricky and. capability. (Paramount) He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. 1 min read Actor Kevin Costner said he was "OK" with losing fans over his. Just this week, three CEOs of top U. S. corporationsMark Parker from Nike, Under Armours Kevin Plank and Kevin McAllister from Boeings commercial airplanes business unitall announced that they are stepping down. Offers may be subject to change without notice. Under Armour announced a turnaround plan in December that will improve womens offerings while also focusing on the wants of the consumer. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. [14], The idea that led to Under Armour was sparked while playing for the Maryland Terrapins; Plank said he was the "sweatiest guy on the football field". [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. [16] One day, his brother asked him, "How's that company you're working on Under Armor?" star and prominent Under Amour endorser Stephen Curry responded, "I agree with that description [of Trump], if you remove the 'et" from asset. Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. "Sadia Khan, a nurse and graduate student from New Haven, Conn., registered her opposition on social media. And I personally believe that immigration is the foundation of our country's exceptionalism.". Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. 21 on 50 Most Influential People in Sports Business by, No. Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. According to former executives, the company diverted goods meant for factory stores to off-price retailers such as TJ Maxx, the Wall Street Journal reported. But it's likely the effect won't linger, he said. Larry Hogan and Baltimore Mayor Stephanie Rawlings-Blake on Wednesday. Currently, however, his philanthropic. [5] Plank tried several prototypes before deciding on the one he wanted to use. Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. But Under Armour has a big business presence in the state and works closely with state and local government. 16 on 50 Most Influential People in Sports Business by, No. Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. Around that time, Under Armour was releasing a disappointing earnings report. Bush wishes Plank well in this letter, praising his leadership skills and stating that he should step aside when they are appropriate. Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. "Trump, Plank told the network, "wants to build things. He is a male registered to vote in St Clair County, Michigan. With de facto stock split, Under Armour ensures founder Kevin Plank will keep his grip on the apparel company. A total of $24 million has been raised by the foundation since it was founded in 2011. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. education, transportation, technology and urban infrastructure In an interview with CNBC last week, Plank said of Trump, "to have such a pro-business president is something that is a real asset to this country." The company announced on October 22 that Kevin Plank would be stepping down as CEO after 23 years. Personal beliefs and opinions. The brand's lifestyle attributes are not quite cool enough to compete with the likes of [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. said he isn't afraid to leave Under Armour. Kevin Plank, a Georgetown Prep graduate, was expelled from the school after he was involved in an alcohol-filled fight. Daniel Acker. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments. All rights reserved. Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. Playing football with the Maplewood Maple Leafs at a young age, he had a liking for athletics. Actor Kevin Costner said he was OK with losing fans over his political views, saying he didnt really care how the cookie crumbles when he backed Rep. Liz Cheney (R-Wyo.) CEO Kevin Plank called President Donald Trump "a real asset to this country," he did not intend to spark a firestorm. Wayfair Huge Deal-A-Thon - Up to 60% off everything! From award-winning writing and photography to binge-ready videos to electric live events, GQ meets millions of modern men where they live, creating the moments that create conversations. 2022 Fortune Media IP Limited. And Under Armour wants to have it both ways. Related by education: University of Maryland, Resides in Baltimore, MD Metropolitan Area. "For years, Under Armour has had a long-term strategy for domestic manufacturing and we recently launched our first women's collection made in our hometown of Baltimore," the company's statement said. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". All hail the greatest regular season Pro Bowl quarterback in the NFL. [38][39], Plank also founded the whiskey distillery Sagamore Spirit in 2013. I love our country & company. Plank's Trump praise might make that organic growth even harder, though it appears that Plank is aware of this. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. By choosing I Accept, you consent to our use of cookies and other tracking technologies. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. [27][28], Plank is a member of the board of trustees for the National Football Foundation. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. Within 24 hours, the hashtag had been tweeted a little more than 1,500 times, according to Keyhole, a hashtag tracker for Twitter.That's a fraction of the nearly 140,000 #deleteUber tweets that appeared by 3 p.m. Jan. 29 after that social media campaign began the evening before, Keyhole data shows.Still Under Armour sought Wednesday morning to mitigate any fallout by issuing its statement. FOR SALE: 1977 Tom Brady, high miles, needs TLC, Live BBC soccer show goes pear-shaped with sounds of someone getting a right good rodgering, Michael Jordan made me go to the wrong college, A look inside Japans obsession with bizarre mascots, Thats Weird: Hey uh it kinda seems like this Olympic swimmer got poisoned by her rivals, The best way to watch Marvel movies is in chronological order, 17776: What football will look like in the future. Im a certified personal trainer with over 10 years of experience. Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake. [17] He also asked his former teammates to try on the shirts, claiming that his alternative to a cotton T-shirt would enhance their performance on the field. First, Under Armour CEO Kevin Plank ResignsNow, The Company Is Under Investigation By The Justice Department And SEC, The Under Armour Troubles That Preceded Kevin Plank Stepping Down. President Donald Trump walks into the Roosevelt Room for a meeting with business leaders, including [+] Under Armour CEO Kevin Plank (center). Despite Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more valuable than it started it. Scott originally backed the plan and its $660 million in TIF benefits as a councilman from the Eastside's impoverished 2nd District. Update: Under Armour has issued the following statement. "What the CEO said reflects where they stand on the issues, and I don't think that statement addresses that," said Khan, 29. Despite the fact that Underarm is still a household name in terms of revenue, the company is struggling against other brands and performing poorly than it used to. Plank took out a full-page open letter in the Baltimore Sun, where he backed off some of his Trump praise, which he said "did not accurately reflect my intent." He expressed opposition to Trump's. 2003 Kevin Plank/Spouse. During the interview, Plank raised concerns about the possible "border tax" Trump has floated.But Plank, who has contributed in the past both to Republican and Democratic elected officials in federal and state posts, said that having "such a pro-business president is something that's a real asset to this country. "Plank was out of town and unavailable to be interviewed on Wednesday, the company said.Immigration has been a hot-button topic since Trump's executive order to suspend refugee admissions and temporarily bar visitors from seven mostly Muslim countries. Our multi-year, transition approach has ensured purposeful leadership continuity. Under Armour Unveils Game-Changing SlipSpeed With Collapsible Heel, Did Under Armour Fudge Its Numbers? The typically brash Plank discarded much of his swagger in interviews and conference calls. The sportswear apparel brand he had founded in the 1990s was going up against giant Nike. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. I'm not going to stop using a good quality product just because they don't have the same views I have. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. His father was a land developer in Virginia, and his mother, the once mayor of Kensington, worked for the Department of State during the administration of President . It also cited allegations of sexual misconduct by male executives including by Planks brother, Scott, who resigned in 2012, according to the Journal and concerns about womens pay and promotions. There is no definitive answer to this question as Kevin Plank has never openly stated his political affiliation. Given the nation's divisions, it's risky for heads of companies to even appear to take sides in political or policy-related matters, marketing experts say. Shai Gilgeous-Alexander, Lauri Markkanen, DeAaron Fox, Tyrese Haliburton and Anthony Edwards are all likely to make their first NBA All-Star game appearance, so lets rank them. Under Armor was established by Kevin Plank, a member of the University of Maryland football team who also founded the company. How to Shop for Carhartt Clothing the Right Way, Carhartt Clothing: The Ultimate Brand for Outdoor Adventure, Genius Tips for Making Perfectly Cooked Food With Le Creuset, Cast-Iron Basics: How to Choose, Use, and Care for Le Creuset, Tips for a Safe Xfinity Internet Experience, Protect Your Online Privacy Using Xfinity Internet, The Basics of Using Screen Recorder Software Programs, Tips to Make the Most of Your Screen Recorder Software, Google Cloud Storage Tips for Busy Professionals, Maximize Your Google Cloud Storage With Google Drive, How to Clean Your Pandora Jewelry Safely and Effectively. "Loyola's Bell said Under Armour is handling the negative reaction in the best way possible. "Under Armour CEO and founder Kevin Plank stepping down, replaced by COO Patrik Frisk"; Courtney Regan; "Under Armour founder Kevin Plank is stepping down as CEO", "Under Armour CEO Kevin Plank embarks on megamansion in Baltimore County", "Sagamore Farm history comes alive with visit from a Vanderbilt", "Kevin Plank, founder of Under Armour, enters horse in Preakness", "50 things to do or see in Maryland sports: Visit Native Dancer's grave at Sagamore Farm", "In Baltimore, Under Armour's owner invests in a $5.5 billion bet on his city", "Remaking Baltimore's waterfront, with a splash of whiskey", "Plank's Sagamore Development plans start-up hub in Port Covington", "Sagamore Spirit debuts its distillery in Port Covington", "Under Armour's Kevin Plank enters the whiskey wars", "Historic Recreation Pier reopens as Sagamore Pendry Hotel", "Sagamore unveils first new Baltimore water taxi, a historic Chesapeake throwback", "Kevin Plank donates $1 million to Baltimore's CollegeBound Foundation", "Kevin Plank's foundation funds summer jobs for Cherry Hill students", "Greater Baltimore Committee backs Port Covington TIF", "Transportation workforce development to be top priorities for Greater Washington Partnership", "Kevin Plank, Living Classrooms Foundation unveil UA House in East Baltimore", "Under Armour re-imagines a community center in East Baltimore", "Kevin Plank's Cupid's Cup picks College Park startup for top prize", "Plank giving $25 million for UM athletic, academic project", "Under Armour's Kevin Plank gives $16 million to high school alma mater", "The Most Expensive House in Washington D.C. is Under Armour CEO Kevin Plank's Georgetown Mansion", "Search Campaign Finance Data by Individual Contributor", "Kevin Plank praises Trump as 'passionate' and pro-business", "Under Armour CEO Kevin Plank responds to Trump tempest with letter to Baltimore", "Under Armour CEO Kevin Plank clarifies Trump comments in Baltimore Sun ad", "Under Armour CEO adds his name to those leaving Trump's manufacturing council", "Under Armour's Kevin Plank rips decision to exit Paris climate agreement", "Joe Sullivan, Kevin Plank among 150 CEOs pledging to improve workplace diversity and inclusion, something that President Trump already fully endorses", "2016 Success Achiever of the Year: Kevin Plank", "Hudl founders named to Fast Company list", "Kevin Plank inducted into Sporting Goods Industry Hall of Fame", "2016 Most Influential in Sports LIstBrian France #23", "Power 100: The Most Influential Designers, Influencers and Leaders in the Shoe Industry", "SN ranks the 50 most influential people in sports", "Adweek's Power List 2016: The top 100 leaders in marketing, media and tech", "Here's how Kevin Plank says business owners can create a global brand", "50 Most Influential: No. "Immediately after the interview aired, tweets with #boycottUnderArmour started to appear, citing Plank's comments. Because American political parties consist of many individuals with widely varied interests, planks are important and help organize the opinions and strategies for each political issue. . . In addition to sitting on the University's Board of Trustees, he played an integral role in the development of an endowment fund that the Dingman Center uses to invest in viable startup businesses. But this is hardly his only problem. Terms at draftkings.com/sportsbook. But he wanted to support her anyways. As of October 2021, the net worth of Kevin Audette Plank is estimated to be US$1.8 billion. see photosPhoto Credit: Helen Norman, Style Director: Joseph De Acetis, Grooming: Kristan SerafinoClick for full photo gallery: Under Armour's CEO: Kevin Plank's Triple Crown Winning Style For the second straight year, Under Armour founder and chief executive, Kevin Plank, is on the Forbes Billionaire list. 2023 NYP Holdings, Inc. 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His mother is a former mayor of Kensington, who went on to direct the Office of Legislative and Intergovernmental Affairs at the United States Department of State under President Ronald Reagan. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. As Under Armour founder and chairmen Kevin Plank unveiled a new brand message The Only Way is Through SEC filings revealed that in the last quarter a hedge fund made a significant bet on Under Armours future performance. We believe it is important for Under Armour to be a part of that discussion. In February 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. SEC Is Investigating And Sends Kevin Plank A Wells Notice. In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." While Under Armour has done well with its on-field merchandise, an initiative to expand beyond playing fields and onto city streets has proven tough. Kevin Plank started the sportswear company in 1996 while playing football at the University of Maryland. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. Plank took out a full-page open letter in the Baltimore Sun, where he backed off some of his Trump praise, which he said did not accurately reflect my intent. He expressed opposition to Trumps proposed (and since partially enacted) travel ban on visitors from some Muslim-majority countries, because it might affect his workforce. [44] The next year, his charitable arm funded 40 summer jobs for Cherry Hill, Baltimore, public school students in the maritime transport industry. Under Armour announced today that Kevin Plank, who founded the company in 1996, is stepping down from his CEO role in January and will remain as . Also in February, The Post reported that Plank is also tight with former MSNBC political analyst Steve Schmidt who worked for Plank as a consultant until last year. We have reached out to the brand with some follow-up questions and will update this post if and when they reply. " In North America, sales were $940 million, a slight decrease from the previous year. To learn more or opt-out, read our Cookie Policy. For more, visit Forbes.com/400. When asked if he agrees with Plank's assessment that Trump is an "asset to the country," Curry responded, "I agree with that description, if you remove the et.". [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. Some of Under Armours biggest stars publicly broke with the guy who writes their endorsement checks. Kevin Plank, the CEO of Under Armour, has resigned from the company. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. [43], Plank donated $1 million through The Cupid Foundation to the Baltimore-based CollegeBound in 2016. Who is Kevin Plank's wife? earlier this year. He was the youngest of five boys born to William and Jayne Plank. When Kevin Plank endorsed President Donald Trump in 2017, he caused a stir. At the time, Under Armour told The Post that its false to report that Kevin Plank used corporate dollars at strip clubs, and added that Plank didnt conduct business at strip clubs or use company funds at such venues.. Within two years, Under Armour relocated its headquarters to Baltimore, and both company founder Kevin Plank and Baltimore Mayor Catherine ODonnell have since become synonymous with the city. Last summer, the company cut ties with a sponsored hunter whose husband had videoed himself spearing a baited bear in Canada.While animal advocates deplored the hunt, many in the hunting community took issue with Under Armour's decision to no longer sponsor the hunter.Politics may prove much more polarizing.