Investing.com -- Under Armour Inc (NYSE:UA) continued its effort to tear into a global soccer apparel market previously dominated for decades by Adidas and Nike, with Tuesday’s multi-year signing of São Paulo FC, the only Brazilian club to ever win three world championships.
Coupled with its high-profile endorsements of New England Revolution midfielder Jermaine Jones and Netherlands national team winger Memphis Depay since last summer’s 2014 FIFA World Cup, the signing could be a reflection of the Baltimore-based company’s push to become a serious player in the soccer apparel business.
“São Paulo has played a significant role in football becoming a cultural passion for Brazilians as well as spreading the flair and electric style of play that has become a symbol of the country’s everlasting impact on how the game is played on pitches all over the world,” Peter Murray, vice president of Under Armour’s Global Brand and Sports Marketing said in a statement. “Their tradition of winning, development of young footballers and strong reputation for embracing innovation makes them a great fit for Under Armour. This partnership will further accelerate our expanding presence in football.”
Sao Paulo, the six-time Brasileirão champion, will begin wearing its new Under Armour training and match day uniforms in May, the company announced. Shares in Under Armour on Tuesday rose 1.52 or 1.97% to 78.81.
Under Armour also currently has sponsorship deals with Tottenham Hotspur of the Barclay’s Premier League, Colo-Colo of the Chilean Primera Division, and Cruz Azul and Toluca of Liga MX.