“And, there’s no question in our mind that the digital marketplace will continue to grow, but we still believe that a combination of the two.” The question is ‘to what extent?’ The question is also, ‘Where?’” he told Yahoo Finance. “There’s a role the physical retail store has. You’re going to see a decrease in physical retailing.”Īccording to Frisk, the consumers want a variety of options, and the in-store experience is important, from pick-up and return to seeing and feeling the product. The evolution will involve a smaller footprint in North America, the CEO argued, “because I think North America is over-skewed from a retail footprint perspective in terms of square footage that’s available out there. Part of the short-term strategy is narrowing the company’s focus and slimming down operations. The consumer believes us as a performance brand.”Īccording to Frisk, narrowing the focus to being a performance brand provides space in the market for Under Armour to grow again, generating a “halo” in other areas. “It’s become clear that Under Armour is a performance brand. And we’ve done a lot of soul-searching as well as a lot of consumer insights,” he said. “As a brand, it’s important as a brand to stand for something. As COVID-19 reshapes consumer behavior, Frisk said Under Armour’s strong quarter is just the beginning for its growth ambitions. We are going to compete again in a major way in 2021,” the executive added. “Make no mistake - Under Armour is a growth company. “We’re going to grow both top-line and we’re going to be profitable again,” Frisk told Yahoo Finance in a wide-ranging interview.įrisk acknowledged that there are some headwinds, including selling its MyFitnessPal platform and exiting a number of wholesale stores in North America, that are “balancing out” that acceleration. He’s been at the forefront of the Baltimore-based company’s turnaround strategy and transformation. He took over the top spot at Under Armour from founder Kevin Plank this year.
Patrik Frisk, a 30-year retail veteran, joined Under Armour in 2017 as its president and COO after serving as CEO of The ALDO Group.
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