On the other hand, revenues on footwear and accessories both increased to $299 million and $145 million, respectively. Under Armour apparel gains was $927 million, which is 6% less than 2019 while. Under Armour Net WorthĪccording to the Q3 earnings call, the company got a revenue of $1.4 billion, which is similar to 2019 Q3 sales. The wholesale revenue dropped by 7% to $830 million while direct-to-consumer revenue rose by 17% to $540 million as As driven by eCommerce continues to drive the market. This consequently benefits the footwear business as workouts increased by more than 200%.
When the COVID-19 pandemic started early this year, the Baltimore, Maryland-based company's digital business is doing well, particularly the MapMyRun as shown in the company's first quarter earnings call, in which a 275% increase in new app users was seen since March. This gives the company an edge to its own audience and creates a complementary Under Armour system for promoting clothing, which inspires users to work out using the apps. In 2018, the apps played vital role in Under Armour's digital business as the management noted that MyFitnessPal and MapMyFitness subscribers as well as its growing fitness community provides them with access to a walled garden composed of millions of focused performers. According to The Motley Fool, such a move was heading towards a correct direction, despite the apps' hefty price tag. Read also: Game-Based Halloween Costumes are Becoming a Trend: Here's How to Make Your Own 'Animal Crossing' Get Up Digital Under Armourīetween 20, Under Armour went ahead on digitalizing its business, spending $710 million in buying three apps: Endomondo, MyFitnessPal, and MapMyFitness. These features remain crucial for Under Armour's digital strategy. Meanwhile, Under Armour will be keeping its fitness platform MapMyFitness, which is a connected fitness segment involving the MapMyRun and MapMyRide, according to Engadget.
Under Armour Sells MyFitnessPal app for $345 million
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