by Brandon Richard
Any upcoming sportswear company is automatically sized up against Nike, who reportedly owns 46 percent of the athletic footwear market and a third of the sports apparel sales. However, Under Armour CEO Kevin Plank doesn't seem to mind the tall task of taking down a giant. In fact, he embraces it. This past summer, the Baltimore-based brand went head-to-head with Nike for endorsement rights to reigning NBA MVP Kevin Durant. Under Armour came out on the losing end, but sent a message in the process — they're ready to compete.
At Bloomberg’s The Year Ahead: 2015 summit in Washington last week, Plank spoke candidly about what it would take to topple Nike. During a sitdown with Stephanie Ruhle, Plank stated, “It would take us decades, at least 10-15 years if we were going to put them out of business,” citing their longstanding business and international relationships as key reasons.
Back in September, Under Armour overtook adidas as the second largest sportswear brand in the United States.
Plank also gives his opinion on why the sportswear market differs from the technology market in the video above.
