Under Armour - Challenging Nike in Sports ApparelNameCourseInstructorDate Overview-History Under Armour was started in 1996 under the name KP sports by Kevin Plank to help athletes become more comfortable, with their clothing in practice and games through cool, dry and light sporting gear. As a former football player, Plank struck on the idea after encountering moisture- wicking fabrics that would make it cooler for athlete to wear. The company had sales of 1.5 billion in 2011, and increased he market share from 0.6% in 2003 to 2.8% in 2011 in comparison to 5.4% in Adidas and 7% in Nike (Thompson, 2012). Since 2005, KP Sports adopted the name Under Armour as sales grew and the company widened its appeal. Mission and vision statementsUnder Armour mission statement describes what stakeholders should expect and is written in the present form and in this case it is “ to make all athletes better through passion science and the relentless pursuit of innovation,” (Thompson, 2012).The vision statement describes what the company hopes to achieve in the future and it is“to be the world’s number one performance athletic brand.” Mission/ objectives/ strategiesThe company seeks to expand product offerings to a wider audience among collegiate, professional, athletic teams, athletes and consumers leading active lives (Thompson, 2012).n with increased retail locations across the world, the company will improve operations with marketing and communication strategies aligned with the needs of consumers. Industry and sub industry analysis The textiles, apparel and luxury goods industry consists of the athletic footwear sub industry with companies manufacturing and selling athletic gear. Even though, Nike and Adidas are the main players in the industry, other smaller specialized and innovative companies are increasing there market share in the industry including Under Armour, Deckers Outdoor Corporation and Wolverine World Wide.