Under Armour’s Making Space Armour!
Investors are counting down the weeks until their first pure-play space stock blasts off, Richard Branson’s Virgin Galactic! The company is planning to fly tourists into space for $250,000, both ways. Over time, this could become a massive business if that price drops within reach of even the wealthiest 1% of the population. First thing’s first, however, a spacesuit will be required!
That’s where Under Armour comes in! The athleisure brand wants to send these interplanetary sightseers up in style, and the spacesuit modeled by Branson yesterday looks about as awesome as you expected. Every tourist will go up in apparel emblazoned with their own name and nationality, so they really feel like astronauts. The set comes with shoes, the spacesuits themselves, training suits, and jackets. Under Armour was never going to say “no” to this opportunity, but what’s really in it for the retailer?
Branding, and not like the type you see from Nike, Adidas, and Lululemon. These suits are a statement, saying, “we are your performance outfitters.” The company really believes in that line, too. It’s been criticized by Wall Street for not opening up to new trends, but sticking to its core competency and dominating that niche is exactly the strategy it hopes will send its stock into orbit!