While playing college football, Kevin Plank saw the spark for the idea that would eventually become Under Armor.
Without any investors, he saved $20,000 of his own money and went into $40,000 of credit card debt to first form and fund the company in 1996. The first year, the business only made $17,000 of sales.
Despite seemingly insurmountable odds, growing credit card interest, and a market that didn’t yet understand the product, Plank continued eventually contracting directly with 12 NFL teams and picking up demand from there.
Thanks to that perseverance, the company now has an annual revenue just under $2 billion, and doesn’t seem to be slowing down its massive growth anytime soon.
Though it took a little while for his product to catch on, Plank didn’t give up on his dream or his vision for what it could become. And that gamble has paid off handsomely for him.
A Favorite Quote:
“I never knew exactly what [Under Armor] was going to look like, but more important, I got up every single day and never believed it couldn’t happen.”