Apr
24
Under Armour Adds Millions to Marketing Budget
Posted in: Uncategorized
As Under Armour’s sales balloon, so does its marketing budget.
The athletic company said today it will increase its ad budget by more than one-third in 2014, based on projections for sales to reach $2.91 billion this year, up 25% from $2.33 billion in 2013.
CEO Kevin Plank told analysts he expected to allocate 11% of revenues to marketing, or $330 million. That’s an $83.5 million increase (34%) over a year ago, and a $125 million boost from 2012. The company handles some marketing in house, in addition to working with Droga5.
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