Under Armour is banking on Hovr to save its business

Under Armour is banking on Hovr to save its business

Product alert: 11

Industry focus area: New Production

To: Mark Siders

From: Mohammed Basiony-product manager Adidas

Subject: Under Armour is banking on Hovr to save its business

Article summary

Under Armour, shoe manufacturers released a new shoe, the Hovr in February 2018. The sale of this shoe has surpassed expectations according to Under Armour executives. According to Patrick Frisk, Hovr is one of the new and strong platforms for Under Amour moving forward and customers should expect more of the product from the brand.

Hovr will be made easier for athletes all over the world mainly in the United States to purchase. Under Armour is hoping Hovr can lift the company above the competition from companies such as Nike and Adidas. Under Armour’s executives holds that the shoe platform has surpassed expectations. If Under Armour focuses more on advertisement as well as design change, the company could increase the sales. Under Armour got lots of shares because of new strong platforms presented to the market as well as marketing channel the company is using. In addition, Adidas and Nike have benefited from their designs being preferred by athletes across the world. Moreover, Nike has established various factories in the United States.

Recommendation for Action

Apparently, Under Armour and Nike are likely to increase their sales if Adidas continue to concentrate on Hovr more rather than marketing channels towards reaching to numerous clients across the world. In this case, to avoid a decrease in sales, Adidas need to use design recommended for athlete needs. Also, Adidas needs vigorous campaign to reach more clients. Without such an approach Adidas has the disadvantage if lagging behind. Nike company is way ahead of Adidas Company in terms of the design of the shoe they make and their marketing strategy

I own 82.93 shares of Adidas. The share price is $51.15

Source: Green, D. (2018, May 01). This is the shoe Under Armour is banking on to save its business. Retrieved from http://www.businessinsider.com/under-armour-hovr-shoe-sales-2018-5

 

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