Under Armour's Kevin Plank on Retail's Future
Kevin Plank, chief executive officer, Under Armour
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How are smart companies thinking about bricks and mortar?
It’s critical that you have it. People need to go places; they need to see things; they need to touch things. But … the idea—or the cliché—of omnichannel retail is a reality. It’s happening. Our mobile business, for instance, is extraordinary. Literally, three years ago it was nonexistent, and now it’s over half of our business.
With your big stores, what percent of that cost is going to be considered a marketing or branding expense?
I’d say zero. I don’t believe in flagship retail, because the definition of flagship retail is that it’s a marketing expense and it’s going to lose money. That’s cultural. Everything that we do must be done with a line of profit in sight.