Under Armour arrives in Myanmar

With the numbers of gym and fitness centers increasing in Yangon, Yangonites are also spending more money on apparel and fashion – from yoga mats and tracksuits, to barbells and running tops.

To capitalise on this consumer trend, the American sportswear brand Under Amour has arrived in Yangon with the aim of growing its presence in South East Asia.

“Our mission is to make all athletes better through passion, design and the relentless pursuit of innovation,” Michael Binger, CEO of Triple Pte Ltd, Under Armour’s distributor in Myanmar, told Metro.

“And we wanted to invest in Myanmar because our mission is to expand the brand across all of Southeast Asia. And having established our footprint in more or less in all of the Southeast

Asian market, it’s about time to break into Myanmar. This country has so much potential, given how much the fitness industry has expanded and the level of brand awareness among consumers,” Mr Binger added.

Founded in 2013, Triple Pte Ltd is a sports and lifestyle retailer which holds the exclusive distribution rights for the Under Armour brand in the region. It launched its Under Armour operations in Singapore and the Philippines in May 2014.

To date the company has expanded its distribution network to cover nine Southeast Asian markets, through a combination of 51 brand houses as well as shop-in-shop and multi-brand wholesale operations.

Working with the high-end fashion retailer MK, Triple Pte Ltd will now distribute Under Armour products to Myanmar. Its new store was officially opened last Saturday, January 18, at Myanmar Plaza.

“We are very excited to be bringing the Under Armour brand and experience to the Myanmar market.

Although the sports category is still at an early stage here, we see long term potential in the sporting goods business in Myanmar.

We are confident that Under Armour will become one of the leading sporting brands in Myanmar due to its innovative performance products and existing brand awareness,” said Paradorn Kunkongkaphan, Group CEO, MK Co Ltd.

MK started its retail operations in Myanmar, and now stocks over 30 international fashion and life style brands.

Located at the ground floor of Myanmar Plaza, the new Under Armour outlet shares its design and branded interior with shops across the globe, including its wood furnishings and steel wall supports.

“Our focus is clearly on the training category, and our biggest category is the apparel. Under Armour is currently the only sports brand that comes from an apparel background, whereas all the other brands come from a footwear background. From that point of view our strength is really on the apparel side, although our footwear also sells very well,” Mr. Binger said.

Under Armour offers a vast range of clothing and apparel for both men and women, with innovative technology integrated into the design. The company will also be retailing its latest footwear, such as the HOVR Sonic 3 and the Under Armour Charged.

“Each brand has its own identity,” Mr. Binger explained about the Under Armour’s appeal.

“We only started operations in South east Asia five years ago, but quickly captured market share by focusing on the target consumers that love Under Armour. They are our core. We see so many people interested in fitness here who buy other brands, so it’s about time that they buy from us now.

That’s why we’re really confident that we can capture the market here”.

According to Mr. Binger, Under Amour is planning to open three stores in Yangon over the next three years.

The Under Armour Brand House is located at Myanmar Plaza and opens daily from 10am to 10pm.

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Source : Myanmar Times

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