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Kevin Plank

Kevin Plank

Kevin Plank is the founder and former CEO and brand chief of Under Armour.

Kevin Plank is the founder and brand chief of Under Armour sportswear company. He also serves as Under Armour’s chairman of the board. Plank is a former football player who spent his childhood in Kensington, Maryland, a suburb of Washington, D.C., where his mother served as mayor and his father was a land developer.

Passion for Football

Plank developed a passion for sports at an early age. He played football for several teams prior to graduating from high school and later played college ball for the University of Maryland where he was also the special-teams captain.

The History of Under Armour

Under Armour can trace its beginnings to Washington, D.C., where Plank was working out of his grandmother’s basement. His goal was to develop sportswear that would wick moisture away from the body because he was frustrated with the way that cotton t-shirts would become soaked with sweat when he played sports.He initially funded the company himself, from his personal savings and credit card debt.

Plank later sent some of the shirts he developed to professional football players he knew and asked them to pass out the shirts in locker rooms. The shirts began to gain popularity, and Plank had sold about 500 of them by the end of 1996, generating approximately $17,000 in revenue. He made his first sale to Georgia Tech for about $17000, and two dozen NFL teams followed.

In 1998, Plank moved Under Armour headquarters from him grandmother's basement in Georgetown to Baltimore, where the company has been ever since. In 1999, Kevin Plank’s company spent $25,000 on an ESPN Magazine ad, which generated about $1 million in direct sales. In that same year, the brand was featured in the movie "Any Given Sunday." Following that, entire teams began to purchase Under Armour clothing, and the company’s revenue soon topped $1 billion.

Plank stepped down from his position of Under Armour CEO in January 2020.

Service to Other Organizations

Kevin Plank serves on several boards in the US, including the Baltimore City Fire Foundation, the National Football Foundation, the Robert H. Smith School of Business at the University of Maryland and the Sporting Goods Manufacturers Association.

Philanthropy

Mr. Plank donated $25 million to the University of Maryland in 2014 for a proposed academic and athletic complex. He has also made substantial donations to St. John's College High School and the Archdiocese of Baltimore.

Education

Kevin Plank graduated with a bachelor's degree from the University of Maryland College Park in 1996.

Personal Life

Kevin Plank is the youngest of five brothers. He was born on August 13, 1972. Plank is married to Desiree Guerzon.

Timeline

January 14, 2020
NYSE: The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of Under Armour, Inc.
October 22, 2019
Kevin Plank announces he will step down as CEO of Under Armour, and will be succeeded by COO Patrik Frisk January 1, 2020.
November 28, 2014
Alumnus Kevin Plank Pledges $25 Million to University of Maryland
November 24, 2005
Under Armour goes public.
August 13, 1972
Kevin Plank was born in Kensington.

Patents

Further Resources

Title
Author
Link
Type
Date

Kevin Plank

Forbes

Web

Kevin Plank - Bloomberg profile

Bloomberg

Web

Kevin Plank is part of the BoF 500

Business of Fashion

Web

Under Armour founder Kevin Plank on why he's decided to step down as CEO

October 22, 2019

News

Title
Author
Date
Publisher
Description
Caroline Fox
February 4, 2021
Business Insider
From Bezos' garage to Mark Zuckerberg's Harvard dorm room, many big companies were born in small places.
Julie Creswell
November 4, 2019
www.nytimes.com
Under Armour, which is facing a federal investigation into past accounting practices, reported revenue declines for the fifth straight quarter in North America -- its biggest market.
Reuters Editorial
November 3, 2019
U.S.
Under Armour Inc is being probed by U.S. federal law enforcement officials, examining whether the sportswear maker shifted sales from quarter to quarter to appear healthier, the Wall Street Journal reported on Sunday.
October 22, 2019
Canadian Business - Your Source For Business News
BALTIMORE -- Under Armour founder Kevin Plank will step down as CEO in the new year to become the company's executive chairman and brand chief. Patrik Frisk
The Associated Press
October 22, 2019
CTVNews
Under Armour founder Kevin Plank will step down as CEO in the new year to become the company's executive chairman and brand chief.
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References

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