Under Armour's Offerings Show Signs of Overall Wearable Tech Growth
We reported that Under Armour telegraphed its plans when it came to implementing technology into its apparel. Under Armour’s announcements at CES in Las Vegas show that the Baltimore-based company is really putting a lot of stock into its tech offerings. According to Forbes, performance apparel will account for about 50 percent of the company’s overall valuation.
At CES, the company introduced new wearable technology, including “smart sleepwear,” which helps athletes keep track of their sleep patterns and monitor recovery.
This is an exciting time for wearable technology, as Berkley ELPP reported that smart clothing only accounts for about 1 percent of the wearable market, which also includes watches and glasses. That leaves a lot of room for companies like Under Armour to answer the call to action and implement more technology into clothing.
This is a good move for Under Armour, too. Forbes estimated that Under Armour’s wholesale revenues will steadily grow. For the promotional products space, that means consumers are generally responding favorably to more wearable technology and implementation for different needs and applications.