Truth be told, entrepreneurs are only self-made, otherwise, they would not be considered as a subject of being successful. Mostly, so-called fortune makers of here and now, are inherited capital (in the form of money) from their parents or people alike. But we humbly believe that to become a successful entrepreneur one ought to be facing ups and downs alongside the journey. To represent taken insights we would like to take Kevin Plank Founder and CEO of the Under Armour Incorporated.
Kevin Plank was born and raised in Kensington town Maryland State. Even though his parents were a land developer (male guardian) and mayor (female guardian), he had built huge interest in sports. Young Kevin played football for Maplewood Maple Leafs in St John`s College High School and sometime later for the University of Maryland, earning both Bachelor`s of Art and Master`s of Art in Business Administration. He started numerous businesses, whilst studying.
We surely know that for business to start and flourish there should be an idea and demand for it.
In Kevin Plank’s case that was sweat-soaking trainer-shirts, which he designed himself in grandmother`s basement in the state of Washington D.C. Meanwhile, friends of his started playing football Plank gently asked them to distribute t-shirts, having Under Armour logo in the front, throughout locker rooms.
From 1996 to 2000 Under Armour had massively been advertised in ESPN magazine, which consequently generated $1 000 000(one million dollars) direct profit. A decade afterwards the company managed to increase its earnings up to $1 000 000 000 (one billion dollars).
It was in 2005, when Under Armour went public trading at NASDAQ, becoming the first US-based IPO(initial-public-offering) to double its earning within first two days of trading.
Endomondo and MtFitnessPall were purchased by Under Armour for $475 000 000(four hundred seventy-five million dollars), to withstand global digital health platform competition with Google, Apple and Fitbit. An agreement was signed with Tim Coppens as ECD(Executive Creative Director) of new non-performance men`s and women`s wear line that to be launched in 2016.
These days, Kevin Plank and its company Under Armour employ over a dozen thousand people of diverse backgrounds. Apart from that he currently has an estimated net worth of $2 300 000 000 (two billion three hundred million dollars) and is an honoured member of National Football Foundation, and Sporting Goods and Manufacturers Association. Despite becoming one of the best sportswear companies in the world, he believes staying humble, not acknowledging not knowing, thinking like an entrepreneur, taking a tremendous risk with responsibility, and striving for hard work will eventually result into creation of pathways for own destination.
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