Apparel giant Under Armour, Inc. (UA - Analyst Report) launched its first-ever Under Armour Experience Store in Shanghai, China. Gold-medal Olympian Michael Phelps, along with CEO Kevin Plank, hosted the celebrations.
Located at the Jing An Kerry Centre, Under Armour’s store is a combination of theatrical and retail values. The store is one of a kind, which will promote and publicize its merchandise through storytelling. A short multi-dimensional film will be used to grab the attention of visitors.
The film will include the success stories of various athletes and their defining moments to inspire young Chinese athletes. The film has been shot with 360-degree camera technology and will be presented on a 270-degree screen.
At the end of the short film, performance trainers will guide visitors to a separate section of the outlet exhibiting a limited selection of the brand's apparel and footwear (which will contain the latest UA Speedform RC running shoe, among other items).
The latest move by Under Armour increases the American company’s international exposure. The company is constantly striving to expand its footprint in emerging markets like Mainland China, Hong Kong and Taiwan. Currently, it operates six specialty stores in Mainland China, including one in each Taiwan and Hong Kong. In 2012, the company’s international revenues accounted for nearly 6% of total revenue. The company seeks to boost overseas revenues, going forward and become a leading sports brand.
Baltimore-based Under Armour, which competes with Hanesbrands Inc. (HBI - Analyst Report) , Michael Kors Holdings Ltd (KORS - Analyst Report) and V.F. Corp. (VFC - Analyst Report) , is a leading developer, marketer and distributor of branded performance apparel, footwear, and accessories men, women, and youth. Primarily based in North America, the company also has operations in the Middle East, Africa, Asia, and Latin America.
Currently, Under Armour carries a Zacks Rank #3 (Hold).