Under Armour's Founder on Learning to Leverage Celebrity Endorsements
Reprint: R1205A Plank’s $1 billion company probably started on a college football field, where his sweat-soaked T-shirts drove the future CEO crazy. After graduation he found a fabric that would wick away moisture and stay light, so he produced a bunch of prototypes. Beginning with an impressive network of former teammates who had gone on to the pros, Plank gradually spread the word about his product. Soon he was outfitting entire teams. But within a couple of years, star players were asking to be paid to wear Under Armour. That meant Plank had to make some tough decisions. Only a few athletes are instantly recognizable—could the right personality make up for that? Was a number one draft pick worth millions of dollars before he’d even dribbled a ball in the NBA? What’s more, star athletes have everybody in the world coming after them. Could Plank break through the crowd and demonstrate that his company was a good fit? He managed to win endorsements from Barry Bonds, Tom Brady, Brandon Jennings, and many others.
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