No Jabroni: Under Armour Teams Up With The Rock For Creative Partnership
Can you smell it? Under Armour Inc (NYSE: UA) can.
The sports apparel company on Monday officially announced a partnership with Dwayne "The Rock" Johnson. The press release stated, "As part of the long-term partnership, Johnson will work hand-in-hand with the innovative performance brand to create a range of products across footwear, apparel and accessories as well as support Under Armour's Connected Fitness initiatives."
Under Armour shares received a slight boost early Monday afternoon, but were trading lower by 2.4 percent at $69.04 on the day. One of the hottest stocks of 2015, shares have taken quite a drop since October, when the stock was trading in the low-$100 handle.
The release continued, "Johnson will play an integral role in the promotion of Under Armour's Connected Fitness platforms including the recently debuted Under Armour HealthBox™ and Record™ application. Additionally, the brand will develop product capsules including footwear, apparel and accessories inspired by the films Johnson is currently working on. The first product capsule will feature a Rock-inspired backpack and duffle bag that will launch on UA.com and be available in select Brand Houses in the next few weeks."
Johnson joins an Under Armour team that includes the University of Notre Dame, NBA MVP Steph Curry, Super Bowl MVP Tom Brady and, perhaps most notably, golfer Jordan Speith. Under Armour's stock received quite a boost in April 2015 following Speith's Masters victory.
"We wanted to empower as many people as possible to attack their goals, so we partnered with the best innovators in the health and fitness business. Together with Under Armour, we will deliver game changing products to help people get after it and chase greatness," said Johnson in the press release.
For the second time in three years, Johnson was named the No. 1 international box office star. His movies brought in nearly $1.5 billion in 2015.
"Dwayne has been a key partner to the Under Armour brand for many years and a key contributor to sports and entertainment as a whole. We are thrilled to have him officially join the UA Team," said Todd Montesano, Under Armour Senior Vice President Strategic Partnerships and Entertainment.
Johnson promised that he will "make history" at World Wrestling Entertainment, Inc. (NYSE: WWE)'s annual Wrestlemania event in April. Wrestlemania 32 takes place at Dallas' AT&T Stadium, with hopes of breaking an attendance record of at least 100,000 fans.
In 2015, Johnson also signed a marketing partnership with Ford Motor Company (NYSE: F).
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