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Under Armour may be best-known for its sports and leisure gear, but the company is planning to change that—the retailer just took its first steps into the high-end clothing market.
The company showcased its new line earlier this week at the New York Fashion Week and is targeting “ambitious Millennials,” a group of consumers the Baltimore-based company hopes will have no problem shelling out $199 on wool pants and $1.5k on trench coats, the Wall Street Journal reports. When asked whether the new line is athleisure, Under Armour president of sport fashion Ben Pruess said, “That word is, well, it’s a word, but it is not this.”
While nobody seems to be exactly sure how to describe the new clothing, analysts agree it’s a step in the right direction, saying Under Armour cannot expect to maintain its double-digit growth without expanding into new markets. [WSJ]
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