Under Armour has been ranked 22nd on the most innovative company list. Only two apparel companies are being listed followed by Nike ranking on 31st position. Under Armour is a young company that has ridden its innovations to some $17 billion in market value in less than a decade. Innovation has always been the central to what Under Armour is and what it does. They are known for their core technology used in footwear & fabric.
Just as Apple innovates on the basis of empowering users, Under Armour innovates on the idea of making athletes better. The brand uses technology in all aspects of its business. This approach has been a success due to the company’s invention of high performance fabrics, fitness devices and wearables. Their new venture Under Armour Connected fitness, is a combination of internal and acquired resources that seeks to transform fitness and performance through an ecosystem of digital devices, tools and data. This also helps a user plan, monitor, adjust and enhance fitness and athletic activities.
Under Armour has 175 million users in its fitness community and reports that it is adding 125,000 new users every day.
There are bigger and older companies which fall under the top 50 category list which have been innovative in their approach for decades and few even for centuries. However, UA has outclassed the various established entities and made its mark in terms of innovation in a very short span.
Source – The Boston consulting group – January 2017 study