‘Just selling on the logo’: Under Armour counts on marketing hire to ‘clean up’ messaging
Former Adidas marketing boss Eric Liedtke will lead brand strategy, as CEO Kevin Plank claims the business lacked the “strength of leadership” to succeed.
By Molly Innes
Under Armour is the latest sportswear brand to reposition its marketing investment towards full-price sales, storytelling and brand building in a bid to turn its business around.
Under Armour reported a first quarter operating loss of $300m (£235m) for the 12 weeks ending 30 June, with poor sales across the board. Revenue dropped by 10% year on year to $1.2bn (£940m). North America suffered worst with a revenue drop of 14%, compared with international revenue which fell by a lesser 2%.
Under Armour founder Kevin Plank returned to the brand as CEO in May. Then this week the business appointed Eric Liedtke – who spent 26 years at Adidas, most recently as brand president – as vice-president of brand strategy.
“We’ve got $0.5bn to spend on marketing. It doesn’t feel like we’re spending it,” Plank told investors overnight (8 August).
