[18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. 2011 [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. [16], Plank initially ran the business from his grandmother's townhouse in Georgetown. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. [56] Plank's comments drew criticism on social media. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 14 January 2021, at 21:00. Kevin Plank With Michael Phelps. Under Armour’s origin story is nearly folklore at this point: in 1996, the brand’s founder Kevin Plank invented a sweat-wicking shirt in his grandma’s basement. [44] The next year, his charitable arm funded 40 summer jobs for Cherry Hill, Baltimore, public school students in the maritime transport industry. On branding. He has been an ardent football fan since his childhood & played for Maplewood Maple Leafs. Kevin A. Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. He also requested his friends to pass on his t shirt to the other players and this was how Plank’s t shirts gradually started garnering popularity. During his university days, he came up with several small businesses and used the funding to capitalize his flagship sportswear project later on. His former home, when he put it up for sale, was the most expensive home on the market in Washington, DC. [25][26], Plank announced his departure as CEO, in October 2019, and was succeeded, on January 1, 2020 by Under Armour COO Patrik Frisk. Under Armour founder Kevin Plank resorted to “sales tricks” and improper accounting to attain unrealistic sales goals as the brand’s popularity faded, shareholders allege in … But Under Armour, a bright idea hatched during … Reflects change since 5 PM ET of prior trading day Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. He attended the University of Maryland, College Park and graduated in 1996 with a bachelor’s degree in business administration in hand. On Tuesday, his company announced he’ll be stepping down as CEO. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. The most important highlight of Plank’s career was surely the 1999 $25,000 ad in ESPN The Magazine that made his product a must-have for players & teams, amassing 1million USD direct sales. [61], "Kevin Plank donates $1 million to Baltimore Catholic schools", "How Kevin Plank turned a single idea into a global brand", "2003 Businessperson of the year: The man behind the 'armour, "Under Armour founder gives $16 million to St. John's College High", "How the founder of Under Armour went from getting kicked out of high school to running a $22 billion company", "From rags to microfiber: inside the rapid rise of Under Armour", "WWE's Darren Drozdov thrives 15 years after being paralyzed during match", "Five finalists chosen for Kevin Plank's Cupid's Cup competition", "Taking on the giants: How Under Armour founder Kevin Plank is going head-to-head with the industry's biggest players", "Kevin Plank is betting almost $1 billion that Under Armour can beat Nike", "20 things you didn't know about Under Armour", "Under Armour founder breaks into billionaires club", "Under Armour acquires weight loss app, MyFitnessPal, for $475 million dollars", "Under Armour Buys Apps in Bid to Become Top Fitness Tracker", "Kevin Plank Is Betting Almost $1 Billion That Under Armour Can Beat Nike", "Under Armour exits yet another school sponsorship deal as part of big shrink". His first big team sale was to Georgia Tech. The story begins with Kevin Plank, Under Armour's founder and CEO. Under Armour’s revenues passed the 1 billion dollar mark in 2010. [9][10] He was not recruited by the top-tier collegiate football programs. Mr. Plank started the activewear company in 1996 in his grandmother’s basement. Kevin Plank. Under Armour Founder Kevin Plank to Step Down as C.E.O. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle — and solicited her business advice over that of his own management team, according to a report. Synopsis. He stepped down from the council following President Trump's comments on violence in Charlottesville, Virginia, saying Under Armour "engages in innovation and sports, not politics". Following a 1999 in-ring accident which left Drozdov quadriplegic, Plank personally financed his customized wheelchair. Kevin A. Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. He’s had a heck of a run, and his story is well know in entrepreneurial circles: Chapter 1: Walks on to the football team at the University of Maryland in the early 1990s. [37] The company had acquired approximately 235 acres in the area[36] and planned to build a mix of offices, residential areas, retail space, parks, boat launches and more. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. ... Kevin Plank marked the occasion by signing the box that made the milestone. He will … At the National Retail Federation conference in New York, Under Armour founder and former CEO Kevin Plank spoke with Rod Sides, vice chairman and U.S. leader of … [45], Plank is also active within the Baltimore and Washington, D.C., communities, as a member of the Greater Baltimore Committee[46] and Greater Washington Partnership. [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. 23 — Kevin Plank", "The 100 most influential leaders in marketing, media and tech", "Under Armour To Receive FN's 2015 Brand Of The Year Award", "America's Most Powerful CEOs 40 And Under", "Under Armour CEO Kevin Plank named one of SI's most powerful people in sports", https://en.wikipedia.org/w/index.php?title=Kevin_Plank&oldid=1000373768, American chief executives of fashion industry companies, American chief executives of manufacturing companies, Players of American football from Maryland, University of Maryland, College Park benefactors, University of Maryland, College Park alumni, People from Georgetown (Washington, D.C.), Pages with non-numeric formatnum arguments, Articles containing potentially dated statements from June 2018, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License, No. [40] He was initially approached about creating a vineyard, but being a whiskey enthusiast he asked his business partner to research whiskey. ’ ll be stepping down as CEO Plank married Desiree Guerzon and together the couple has one son James! 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