Patrik Frisk sees a $120 billion pie. That is the overall market opportunity the UnderArmour chief executive officer believes is available as the activewear brand pursues its mission of helping athletes of all levels improve their performance.
When the Swedish-born executive joined Under Armour in 2017 as president and chief operating officer, the once-high-flying company was faltering both in terms of sales, as well as with scandals ranging from strip-club visits to Securities and Exchange Commission investigations.
Despite supply chain issues that had Wall Street a tad jittery, the company reported net income above expectations in the fourth quarter and year in 2021. But for Frisk, he’s just getting started and he’s focused on continuing Under Armour’s mission to help athletes of all types keep getting better. WWD: Kevin Plank was the face of the brand since its founding in 1996. How involved is he these days?Kevin has a very clear role and mandate, he’s the executive chairman so he engages at a strategic level. Kevin and I have a very close working relationship. He still has the office next to mine so now that we’re open again, I’m sure we’re going to see a lot more of each other in person.
WWD: You’ve made a lot of personnel changes since you took over. What type of people do you gravitate toward?We had started to make changes before I came in — and I was one of the changes, I guess — but the difference now is that it’s a much more diverse leadership team in terms of gender and experience.
Our mission is to get millions of youth engaged in sport by taking down barriers to entry by 2030. And this is something we’re now working across a number of different initiatives. We’ve bucketed them around people, pathway and performance, and for us, with all the engagement we have with teams, schools, organizations, we have an opportunity to be driving various initiatives that can make it easier for you to participate or have access to sport.
So all we needed to do was to clarify that around what we call the Focused Performer Mindset. If we’re focused on the consumer in a moment when they’re about to do an activity with a way for that consumer to get better, there’s a high opportunity for us to get bigger as well. We saw that as a $120 billion opportunity for us.
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