Kevin Plank | Success story of the founder of Under Armour

Kevin Plank is an American businessman, entrepreneur, and philanthropist. He is the founder and executive chairman of Under Armour. Under Armour manufactures footwear, sportswear, and accessories. In 2021, Plank’s net worth was estimated to be around US$1.8 billion. He started Under Armour while still in college. He built his company from scratch in his grandmother’s basement. Plank also launched several other businesses during his time in college. From a very young age, he was interested in sports. His success story is very inspiring. Here’s Kevin Plank’s success story.

Early life

Kevin Plank was born on August 13, 1972, in Maryland, United States. His father worked as a land developer while his mother, a former mayor of Kensington, worked at the United States Department of State. Right from his childhood, Plank was interested in sports and grew up playing youth football. He had to leave his preparatory school due to poor academic performance and later joined another school in 1990. Later, he played football at FOrk Union Military Academy for almost a year. Plank wanted to join the NCAA Division I schools. 

Unfortunately, he was not selected by the top-tier colleges’ football programs. Later, Plank attended the University of Maryland and played on the team. In 1996, he graduated from college with a degree in business administration. During his time in college, Plank started several businesses. He launched a rose-selling business on Valentine’s Day called Cupid’s Valentine. This business earned him $3000 which Plank used to start Under Armour. He started Under Armour while still in college and the company went on to generate billions of dollars in sales. 

Under Armour

While playing for his college’s football team, Plank said that he was the “sweatiest guy on the field”. Eventually, he got annoyed due to his cotton T-shirts’ inability to keep his body dry and comfortable. He started searching for a material that would absorb the sweat from his body. After graduating from college, Plank looked for synthetic materials that can keep athletes dry and comfortable. Using his own money, credit cards, and a loan, Kevin Plank started his business. Before launching his company, he tried various prototypes of materials. Initially, Plank wanted to name his company Heart. However, he could not trademark it. One day, his brother called the company Under Armour and the name stuck. 

He ran the business from his grandmother’s basement during the initial stages. In addition, Plank also asked his former college teammates to try on his T-shirts. When his friends started playing professionally, he sent his T-shirts, requesting them to pass them around in the locker room. In 1996, his first year, Plank made $17,000 in sales. In 1999, he used almost all of Under Armour’s money to take out an advertisement in the ESPN magazine. The ad cost his $25,000. The ad earned him $1 million in sales and several athletes started to buy his products. In 2010, Under Armour made $1 billion in sales for the first time. Plank eventually became a billionaire in 2011 and his net worth was around $1.05 billion. 

Kevin Plank’s success story

Today, Under Armour is one of the most popular sportswear brands out there. Kevin Plank’s constant hustle helped him build an empire. His success story is very inspiring. He never gave up on his dreams and went on to become a billionaire. Hard work is the key to success. We should always believe in ourselves and never give up. Initially, Plank ran his company out of his grandmother’s basement. His story is an inspiration to young entrepreneurs all around the world. 

Recent Update:

In August 2022, Kevin Plank appeared on Under Armour’s earnings call. At the event, Kevin discussed the company’s upcoming strategies. The event’s highlight was Kevin’s announcement about the search for a new CEO for Under Armour. In June, Patrik Frisk (Under Armour’s former CEO) resigned from his position. After Patrik’s exit, the company’s COO Colin Browne took over the management. At the event, Kevin Plank appreciated Colin Browne’s efforts in the demanding position. However, he also stated that Under Armour’s new CEO will have to have the ability to bring inspiration to the team. Kevin wishes that the upcoming CEO will contribute to the overall growth and welfare of the company.

Also read: Larry Page | The success story of the co-founder of Google