Under Armour, Inc. (NYSE: NYSE:UA, UAA) announced on Monday that Eric Liedtke, a former Adidas (OTC:ADDYY) Group executive, will join the company as Executive Vice President of Brand Strategy after the acquisition of UNLESS COLLECTIVE, INC, a plant-based fashion brand.
The completion of the appointment is expected later this week.
Liedtke, who previously served as Brand President and Executive Board Member at Adidas from 2014 to 2019, brings extensive experience in driving growth and innovation within the branded sports industry.
At Adidas, he played a pivotal role in the company's turnaround, contributing to over $8 billion in revenue growth. His tenure at Adidas was marked by the launch of initiatives like the Boost footwear platform, the Yeezy collaboration, and the Parley line of sustainable products.
In his new role at Under Armour, Liedtke will be responsible for improving the brand's identity, strategic planning, and executing initiatives to accelerate growth. He will report directly to President and CEO Kevin Plank and will oversee various aspects of the brand's presence, including marketing, consumer intelligence, and social media.
Kevin Plank expressed enthusiasm for Liedtke's appointment, citing his exceptional leadership and ability to drive consumer-centric growth as assets that will bolster Under Armour's brand strategy and operational model. Liedtke himself is honored by the opportunity and aims to elevate the brand and drive growth among consumers.
Under Armour, headquartered in Baltimore, Maryland, is one of the key players in performance athletic apparel, footwear, and accessories.
InvestingPro Insights
As Under Armour (NYSE: UA) welcomes Eric Liedtke to its executive team, the company's financial metrics and market performance provide a backdrop to the strategic direction it may take under his leadership. Under Armour's market capitalization currently stands at $2.74 billion, indicating the company's solid presence in the market despite recent challenges.
InvestingPro data shows that the company's P/E ratio is at 12.01, with an adjusted P/E for the last twelve months as of Q4 2024 at 11.75, suggesting that the stock may be reasonably valued relative to its earnings. This could be of interest to value-focused investors considering the company's stock amid the leadership change. Moreover, Under Armour's price to book ratio for the same period is 1.27, which could signal that the stock is trading at a price relatively close to its net asset value.
Two InvestingPro Tips highlight the current state of the company's stock: Under Armour has been trading near its 52-week low, and the stock has experienced significant volatility in price movements. This could point to potential opportunities for investors looking for entry points in a stock with a recognizable brand and new executive talent aiming to drive growth. Additionally, it's important to note that Under Armour operates with a moderate level of debt and has liquid assets that exceed short-term obligations, which may offer some reassurance regarding the company's financial stability.
For investors seeking more detailed analysis, InvestingPro provides additional tips which could offer further insights into Under Armour's potential as an investment. There are currently 5 more InvestingPro Tips available that delve into the nuances of the company's financial health and market predictions.
The addition of Liedtke's expertise in innovation and sustainable growth aligns with Under Armour's financial readiness to embrace new market opportunities. As the company looks to reinvent itself, these financial metrics and expert insights will be crucial for investors monitoring Under Armour's progress.
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