Frasers Group Takes 8.78% Stake in Under Armour

On October 1, Frasers Group disclosed ownership of 16,576,500 Class A shares of Under Armour, about 8.78 % of that class. The SEC filing notes the shares were not bought to change or influence control. Founder-CEO Kevin Plank retains roughly 65 % of voting power through his Class B shares.

Frasers Group snaps up share in Under Armour

Frasers Group, the UK retailer behind Sports Direct, has a history of minority-equity investments in turnaround-prone brands. Earlier this year it secured a 5.77 % stake in Puma, its second-largest shareholder after Anta Sports, and holds put-option positions that translate to a 4.2 % stake in Burberry. The Under Armour purchase fits the group’s “Frasers Group Luxury” strategy, which bundles fashion and sports assets.

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Under Armour’s first-quarter fiscal 2027 results, released on August 7, showed revenue of $1.10 billion, a 3 % year-on-year decline. North-American sales fell 9 % to $610 million, while international revenue rose 5 % to $490 million. Gross margin improved by 590 basis points to 54.1 %.

Billionaire Mike Ashley buys 8.8% of struggling Under Armour

The stock has hovered near historic lows. One source reported a close of $4.62, down 2 %, while another noted a rise to $4.88, up 9.4 % from $4.46 the previous week.

Billionaire Mike Ashley buys 8.8% of struggling Under Armour

Kevin Plank welcomed Frasers Group as a “strategic shareholder,” saying the partnership would support Under Armour’s long-term value creation. Frasers Group chief executive Michael Murray highlighted the luxury division’s role in scaling the portfolio of high-end brands and noted that Frasers’ retail network can deepen commercial ties with Under Armour. Under Armour confirmed its turnaround programme, launched in May 2024, will continue through the end of 2026.

Frasers Group snaps up share in Under Armour

• Share-price movement: AskTraders reported a 9.4 % increase to $4.88, whereas Footwear News (cited by WWD) noted a 2 % decline to $4.62, illustrating limited clarity on market reaction.

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• Intent of the investment: Frasers Group has not disclosed a strategic rationale beyond “investment,” leaving open whether the stake will lead to supply-chain advantages, product-placement agreements, or future acquisition talks.

WWD

• “We are pleased to welcome Frasers Group as a strategic shareholder in Under Armour, joining other significant long-term shareholders, including Fairfax/Hamblin Watsa and BDT/MSD,” — Kevin Plank, chief executive

WWD

• “Luxury has been a core pillar of Frasers Group for more than a decade,” — Michael Murray, CEO

WWD

Under Armour’s turnaround plan, aimed at repositioning the brand as a more premium offering, runs until the end of 2026. The company will monitor the impact of the Frasers Group stake on distribution and brand visibility across the UK and European markets, where Frasers’ footprint includes Sports Direct, Flannels and other outlets. Further regulatory filings may reveal whether the minority position evolves into deeper commercial collaboration or additional equity moves.

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