Consumer
Under Armour to Restructure Under Returning Founder Kevin Plank
- Business strategy will have a focus on men’s clothing
- North America sales expected to fall as much as 17% this year
Under Armour footwear.
Photographer: Christian Petersen/Getty ImagesThis article is for subscribers only.
Under Armour Inc. will restructure its business amid a continued decline in revenue and make men’s apparel its highest priority as the company realigns itself under founder Kevin Plank.
The athletic-wear brand is going through a transitional period as Plank, who stepped down from the CEO position in 2019 amid a series of scandals, retook the role in April. The restructuring process has been approved by Under Armour’s board and includes layoffs, though management did not say how many employees will be impacted by the cuts.