More than a month after it partnered with Lazada Malaysia, Under Armour has launched its eCommerce store on Shopee Malaysia to help continue its business on eCommerce platforms in the region. According to Under Armour, the move brings it "one step closer" to fulfilling its business strategy for South Asia Pacific.
The brand is dishing out up to 60% off with a minimum purchase of three items in celebration of the official launch on 17 November. While Under Armour's spokesperson declined to comment on the monetary value of the partnership, she said Shopee’s mission is aligned with its current goal of providing customers with greater savings and deals on the items they purchase. "Not only do they have strong visibility in the region, their customer’s shopping habits are in great synergy with the mega-deals and shopping promotions we intend to launch," the spokesperson added.
Besides the 60% discount, Under Armour is also working with media outlets, key opinion leaders and leveraging paid social media ads, among others, to drive awareness for its eCommerce store on Shopee Mall. "These are the most ideal channels for us to push for greater awareness and to reach our intended customers with sales being our top priority," the spokesperson added.
During the soft launch, it aims to increase sales by "a significantly greater amount" than its recent 11.11 campaigns. According to the spokesperson, the number of followers it hopes to see month-on-month would be a gradual 20% to 30% compounding increase. The spokesperson declined to comment on what percentage of Under Armour's total revenue eCommerce forms.
Separately in September, Under Armour partnered Lazada to expand its online presence. The store launch came after Under Armour witnessed a dip in revenue previously in July due to the impact of COVID-19. Revenue was down 41% to US$708 million and its international business dipped 34% to US$224 million.
Meanwhile for the third quarter of 2020 ended 30 October, the brand said revenue was flat at US$1.4 billion compared to 2019. That said, revenue for Asia Pacific increased 15% while EMEA saw a 31% revenue increase. North America and Latin America, on the other hand, witnessed a 5% and 15% dip respectively.
Under Armour expects revenue to be down at a high-teen percentage rate compared to 2019, reflecting a low twenties percentage rate decline in North America and a high-single-digit percentage rate decline within the international business. For the fourth quarter, the company now expects revenue to be down at a low-teen percentage rate, versus the previous down 20% to 25% expectation.
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