Home grown entrepreneur Kevin Plank has channeled his ambition for making opportunity out of nothing at all into a billion-dollar enterprise. From humble beginnings he set out to create ventures where none existed before. From the practical, like delivering roses on Valentines day or selling T-shirts at concerts he has made fortune after fortune by hard work and paying attention to customer needs. Kevin Plank has turned “I wish” into “I will”.
A need for comfort while he played football for the Terrapins was the inspiration for the original Under Armour. Microfibers in women’s under garments along with $40,000 in credit card debt ushered in the production of his signature shirt. A mispronunciation of the shirt name by his brother gave it the name it has today. Passing out samples to friends lead to his first sale to Georgia Tech.
As word spread of the comfort and quality available, Kevin Plank added new designs and sales crept up. While unable to garner attention from any professional football teams, he was able to outfit the cast of the hit move “Any Given Sunday”. That lead to an ad in ESPN The Magazine and by 2000 Under Armour had sales of $5 million.
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Things moved quickly for Kevin Plank. He became the official supplier of the NFL and made licensing deals with MLB. In 2005 Under Armour went public and the price of Under Armour stock doubled its first day. Since then he has added footwear, men’s underwear, women’s sports bras and even heavy-duty umbrellas. These innovations coupled with acquisitions of several apps and celebrity endorsements have propelled Under Armour’s net revenue in the U.S. to $3.5 billion in 2018.
Success and wealth have afforded Kevin Plank the ability to spread a message of goodwill in the form of various programs. His companies’ efforts now impact breast cancer, wounded veterans, environmental causes and scholarships at the University of Baltimore. He hasn’t stopped there. A massive urban redevelopment in Covington Park is expected to transform the city.
For his personal pleasure he has purchased a horse farm and a working whiskey distillery that won an award in 2019. His is a simple hands-on approach when it comes to business and it has paid off.
Learn more about Kevin Plank: http://investor.underarmour.com/directors/kevin-plank