Under Armour Acquires Plant-Based Streetwear Designer, Appoints New Brand Executive from Adidas
Under Armour is undergoing a substantial leadership transformation, marked by founder Kevin Plank’s return as CEO earlier this year. The Baltimore-based company has made a significant move by appointing Eric Liedtke, a former Adidas executive and the founder of the plant-based streetwear brand Unless Collective, as executive vice president of brand strategy. Additionally, Under Armour plans to acquire Unless Collective in a deal expected to close later this week.
Liedtke brings an extensive background from his 26-year career at Adidas, where he held prominent roles including brand president and executive board member. During his tenure at Adidas, Liedtke was instrumental in orchestrating one of the most notable turnarounds in the company’s history. His five-year strategic plan laid the groundwork for the successful launches of Adidas’ Boost footwear, the high-profile Yeezy collaboration, and the sustainability-driven Parley line, which underscored Adidas’ commitment to eco-friendly products.
In his new role at Under Armour, Liedtke will be responsible for amplifying the brand’s identity, enhancing storytelling, and driving strategic planning. He will report directly to CEO Kevin Plank while continuing to oversee product development at Unless Collective. This strategic appointment is part of a broader leadership shakeup within the company. Notably, Jim Dausch, who was brought in as chief consumer officer by former CEO Stephanie Linnartz in July 2023, will be leaving the company at the end of August to pursue other opportunities.
Kevin Plank expressed confidence in Liedtke’s capabilities, highlighting him as a rare multi-disciplinary professional with a proven track record of driving consumer-centric growth. Plank emphasized that Liedtke’s expertise will be crucial in steering Under Armour through its current phase of evolution. Liedtke himself is optimistic about the future, stating that he sees tremendous opportunity to elevate the Under Armour brand, build customer loyalty, and drive growth among both new and existing customers.
This leadership change comes amidst Under Armour’s ongoing efforts to restructure its business. Announced in June, the restructuring plan aims to make the company more efficient and enhance its brand positioning. The plan is expected to include layoffs and other strategic moves to streamline operations. Despite these efforts, Under Armour anticipates significant revenue declines in the U.S. market.
The market reacted modestly to these developments, with Under Armour’s class A shares rising by 10 cents, closing at $6.47 on Tuesday. The company’s stock has largely remained below $10 per share for the past two years, reflecting ongoing challenges. However, the strategic appointment of Liedtke and the acquisition of Unless Collective signal a renewed focus on innovation and sustainability, which could position Under Armour for future growth and market recovery.
