Under Armour CEO Kevin told Bloomberg reporters, Do I take pleasure in that they [Nike] paid $150 million more than they planned on paying? Absolutely.
Plank reportedly refuses to even say the word 'Nike' and recently opened an Under Armour office in Portland, Oregon just a skip away from Nike headquarters.
According to a Sterne Agee report,
Under Armour has also grabbed Adidas spot as the second-largest sporting brand in the United States. But despite this new rank and a predicted revenue growth of 20% each year for the next five, Under Armour finds its total annual revenue to be the equivalent of Nikes advertising budget.
Nike is a data, technology, biotech and distribution business, says StockTwits co-founder Howard Lindzon. Under Armour has snuck up and become much of the same through creative advertising and the use of technology to bring down the price of their goods. Lindzon owns Nike but does not own Under Armour stock.