Masters marks another win for Under Armour
As Jordan Spieth pulled off a historic victory, company put itself on golf-apparel map
NEW YORK— Jordan Spieth’s Masters Tournament title marked his first major victory, while continuing a string of them for Under Armour Inc.
In February, Under Armour introduced its first basketball shoe tied to a specific player: top National Basketball Association All-Star vote-getter Stephen Curry. In March, a company-best six teams, including the University of Notre Dame, wore its shoes in college basketball’s national men’s tournament.
Now it has put itself on the golf apparel map via Spieth, the 21-yearold Texan who shredded Augusta National Golf Club over four days to tie four-time winner Tiger Woods’s tournament scoring record.
The navy and white outfit of Spieth, the first wire-to-wire Masters winner since Raymond Floyd in 1976, was covered in Under Armour logos Sunday during his four-stroke victory over three-time Masters champion Phil Mickelson and 2013 U.S. Open winner Justin Rose. Finishing fourth was No. 1 golfer Rory McIlroy, who is now just ahead of Spieth in the Official World Golf Ranking.
“You look at this overall changing of the guard that they were talking about (Sunday) with McIlroy and Spieth — not replacing Mickelson and Woods — but this overall feeling that there is a transition going on,” said sports marketing professor David Carter.
“You can’t help but notice that there might also be a transition going on in the apparel business.”
Baltimore-based Under Armour last year had $3.88 billion in sales, surpassing Adidas as the No. 2 sports apparel maker. Under Armour in February reiterated it expects sales to climb 22 per cent, still way below Nike Inc., which had revenue in the 12 months through February of $38.02 billion.
Under Armour signed Spieth when he turned pro in 2013 at age 19. In January, the company extended his contract for10 years, making him the first golfer outfitted head-to-toe in Under Armour apparel.
Spieth has been involved in developing the company’s first golf shoe, a limited edition which went on sale this month. Under Armour also has endorsement deals with golfers Hunter Mahan and Gary Woodland.
Wearing three Under Armour logos on his hat, three on his shirt, one his belt, two on his pants and logos on his shoes, Spieth earned Under Armour $38.7 million in exposure over four days of Masters television coverage on CBS and ESPN, according to Eric Smallwood, a Detroit-based sports sponsorship analyst.
As well as helping to sell more apparel, Spieth’s historic victory will al- so boost Under Armour’s image, said Sam Poser, a New York-based analyst at Sterne, Agee & Leach Inc. who recommends buying the shares.
“It’s not about the sport,” Poser said. “It’s about the spectacle, about the winning. Everyone in the world is going to know who Jordan Spieth is even if you’re not a golf fan.” Shares in Under Armour have climbed 66 per cent in the past year, valuing the company at $23 billion.
Founded in 1996 by former University of Maryland football player Kevin Plank, Under Armour has forced its way into a sporting goods market that a decade ago seemed impenetrable, said Carter.
“They’ve put a lot of the traditional heavyweights not only on notice, but on defence because of some of the signings they’ve made,” Carter, executive director of the Sports Business Institute at the University of Southern California, said in a phone interview.
“They’ve gone from building relevance in the marketplace to now being one of the stalwarts that everyone’s paying attention to.”
Spieth drew praise from commentators Sunday for his skill and his demeanour, such as when he gave a thumbs up and a smile to playing partner Rose following a good shot.
“It’s how the game was founded,” Spieth said at a news conference, wearing the champion’s traditional green jacket. “It’s a game of integrity.”
Spieth’s deportment deprived Under Armour of a further chance to raise awareness of its brand, said Carter. The champion kept a victory lap around the 18th green brief and removed his hat to shake hands with Rose and celebrate with others, in line with traditional manners.
“I kept thinking the kid keeps taking off his hat,” Carter said. “Put your hat back on. Put your hat back on.”