Early Life
Kevin Audette Plank was born on August 13, 1972, in Kensington, Maryland. He grew up as the youngest of five brothers. His father was a real estate developer, and his mother served as the mayor of Kensington and later held a position at the U.S. Department of State. Plank attended St. John's College High School and the University of Maryland, where he played football. During his time at the University of Maryland, Plank was frustrated with the heavy, sweat-soaked cotton T-shirts and sought a better solution.
Rise to Success
Plank's entrepreneurial journey began in 1996 when he founded Under Armour. The idea stemmed from his experience as a football player, where he realized the need for a performance apparel that would wick moisture. With an initial investment of approximately $40,000 from personal savings and credit cards, Plank developed the first Under Armour shirt. He launched the company from his grandmother's basement in Washington, D.C. The company's growth was rapid, with initial sales to college football teams. Under Armour quickly expanded, becoming a major player in the athletic apparel market. Plank served as CEO from the founding of the company until 2020 and returned as CEO in April 2024.
Key Business Strategies
Under Armour's success is a result of Plank's focus on innovation, quality, and strategic marketing. Under Armour's initial success was rooted in a superior product that solved a problem for athletes. Plank used direct sales to college and professional teams. The company expanded its product line and distribution channels. In 2016, Plank created a non-voting Class C share to concentrate control with Plank. The company's success also hinged on securing high-profile sponsorships with top athletes and teams. The 'Protect This House' marketing campaign, solidifying the brand's performance positioning. The company has expanded into footwear and technology, launching the Curry Brand and the UA HOVR cushioning system.
Philanthropy
Plank is also known for his philanthropic activities. His foundations, the Plank Family Foundation and the Cupid Foundation, support various programs in the Baltimore area. He has donated to educational institutions, including the University of Maryland and St. John's College High School. In 2016, the Cupid Foundation donated $1 million to the CollegeBound Foundation.