Under Armour eyes regional growth
UNDER Armour, a US maker of performance sportswear and apparel, is committed to investing further in Southeast Asia, while its exclusive distributor for the region plans to add at least two branches per year in Thailand to cash in on the fitness fad.
“After launching six stores in strategic locations through Bangkok, in the remaining months Under Armour is opening two stores in CentralFestival Pattaya in October and Jungceylon in Phuket in December,” Michael Binger, chief executive officer and co-founder of Singapore-based Triple Private Ltd, the exclusive distributor of Under Armour in the region, said yesterday.
Each new location will occupy 200 square metres and cost Bt20 million, Binger said at the celebration of the first anniversary of his business in Thailand.
Under Armour products are available in its stores at Mega Bangna, Zpell @ Future Park, Siam Paragon, The Emporium and The EmQuartier.
The distributor also operates the brand’s biggest house in Southeast Asia at the Siam Centre shopping mall. This 480sqm flagship store stocks a wide range of products, apparel and sports accessories.
A limited number of Jordan Spieth’s Preferred Kits are available at this store as well as the latest edition of running shoes like the Bandit 2.
With the growth in interest in sports and fitness in the country, the company will continue to put more money into branching out its stores.
“We continue to build a solid foundation with our core apparel products and by emphasising that training is a key fundamental in improving all kinds of sport performance,” Binger said.
Thailand is a new market for Under Armour but there is more room to grow, he said.
Last year, Thailand’s apparel and sports-gear-related business represented about a quarter of the Southeast Asian market, which was worth about US$1 billion (Bt35 billion).
This market is expected to grow by 7-10 per cent a year.
“Our business growth in Thailand is now higher than the region’s. We expect this year, total sales should [expand by] 15 to 20 per cent, mainly driven by its growing distribution,” he said.
