Under Armour Inc., the multinational sports apparel and shoe brand is reportedly considering to exit certain sports categories to overcome the effects of a recent sales slowdown in the athletic apparel industry.
Under Armour is reported to be exploring the exit from its tennis and other outdoor categories, The Wall Street Journal reported on Monday. The report is widely circulated in the US media.
British star and World No. 3 on the ATP tour, Andy Murray is the brand icon for Under Armour tennis range. US pro-Sloane Stephens also endorses the brand.
The Maryland-based sports apparel brand could also shut down smaller sports categories fishing and outdoor gear, the Wall Street Journal has reported, citing sources familiar with the situation. Other unidentified categories could also face axe.
Under Armour had recorded its first losses as a public company earlier this year. At the time, the brand had also announced plans to cut about 2% of its global workforce.
CEO Kevin Armour had reportedly admitted last month that the apparel company “just can’t do everything”. That too was an indication of company’s plans to cut down on some of its operations.
The company is also experimenting with other ways to revive its business. The sportswear company on Oct. 20 launched ArmourBox, a new monthly subscription service that sends customers items every month, two months or three months, according to the subscriber’s wishes.
Retail rival Nike also announced a restructuring of its own in June, as part of a push to offer shoppers more customizable options.