Under Armour inks 15 year deal with UCLA
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Under Armour has found a quick formula for growth, go back to school.The sports brand has inked a 15 year deal with the University of California, Los Angeles to outfit their 25 men's and women's varsity teams. This marks the largest apparel deal in NCAA history.
Beginning July 2017, Under Armour will design and supply footwear, apparel, and equipment for training, as well as game day uniforms.
Under Armour said the company would "continue to expand its West Coast footprint with a commitment to open new retail locations in the greater Los Angeles area — including on L.A.’s Westside — and offer annual internship opportunities at the brand’s Baltimore-based global headquarters for university students.”
According to WWD, UCLA marks Under Armour's 35th Division I all school partnership.
The company has been seeing impressive growth lately. First quarter revenues grew to 30 percent to 1.05 billion dollars. However, Under Armour still sees tough competition from other athletic brands like Nike.
Under Armour has also seen turnover of key positions, such as the departure of chief merchandising officer Henry Stafford.