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Biz News Korea(Eng)

Sports label Under Armour to directly run operations in Korea

Collected: 2016.09.02

Distributed: 2016.09.05

Source: Go Direct

Under Amour Inc. of the U.S., which has been quickly rising in sports fashion field, will open a branch office in Korea and begin direct sales from next spring and summer collection.

The U.S. athletic gear brand so far has been sold via local importer and distributor Galaxia Corp., a subsidiary of textile giant Hyosung Group.

Sales in Korea had been poor although it runs over 50 outlets across the nation.

Under direct management, merchandise will be shipped directly from its U.S. headquarters. Galaxia will continue to oversee marketing.

Under Armour’s net revenues neared $4 billion last year and it expects its net revenues for this year to reach around $4.9 billion, riding high on celebrity endorsements of top-notch sports players including Golden State Warriors point guard Stephen Curry, professional golfer Jordan Spieth and New England Patriots quarterback Tom Brady.

By Park In-hye

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