Streetwear brand Unless Collective acquired by Under Armour
Under Armour, Inc. has announced plans to acquire UNLESS COLLECTIVE, INC, a zero-plastic regenerative fashion brand. The sportswear giant will also bring on founder Eric Liedtke as Executive Vice President of Brand Strategy following the deal's completion.
Transaction snapshot
Deal value: N/A
Deal multiples: N/A
Deal type: Acquisition
Investors: Under Armour, Inc.
Liedtke, a veteran of the sports apparel industry, will oversee Under Armour's brand presence globally. His role will cover areas such as category marketing, consumer intelligence, creative, marketing operations, loyalty, social media, sports marketing, and strategy functions.
Kevin Plank, Under Armour's President and CEO, praised Liedtke's track record in driving growth in the branded sports industry. He highlighted Liedtke's experience as a valuable asset for refining Under Armour's operating model and enhancing consumer engagement.
Liedtke expressed his enthusiasm for the opportunity to contribute to Under Armour's legacy as an iconic brand. He sees potential to elevate the brand, deepen customer loyalty, and drive growth among new and existing consumers.
Before co-founding UNLESS in 2020, Liedtke had a 26-year career at adidas Group. He held several senior positions, including Brand President and Executive Board Member from 2014 to 2019. At adidas, he led a significant turnaround, delivering over $8 billion in revenue growth through a five-year strategic plan.
UNLESS COLLECTIVE, founded in 2020, is a plant-based, zero-plastic regenerative fashion brand. It creates clothing and apparel from plant-based materials that can be safely returned to the environment.
The acquisition is set to close later this week. Under Armour has not disclosed the financial terms of the deal.
This move aligns with Under Armour's strategy to strengthen its brand and drive growth. The company expects Liedtke's experience and UNLESS COLLECTIVE's innovative approach to sustainability to contribute to its long-term success.
