Under Armour announced Thursday the introduction of Tom Brady's "Athletic Recovery Sleepwear" product with advanced technology that will help consumers sleep better. Kevin Plank, founder and CEO of the Baltimore-based sports apparel company delivered a keynote speech at the Consumer Electronics Show in Las Vegas to reveal the new product.
Brady, a four-time Super Bowl champ with the New England Patriots who is widely considered as one of the greatest quarterbacks in NFL history, believes that between eight to ten hours of continuous sleep right after an exercise or a workout is the best way to recover body every night.
"I firmly believe that sleep and recovery are critical aspects of an effective and holistic training program," Brady said in a statement. "Proper sleep has helped me to where I am today as an athlete and it is something I continue to rely on everyday. I am excited to partner with Under Armour to bring game-changing sleepwear with the same bioceramics technology I use to athletes all around the world."
The brand will feature Brady's signature line of the product -- TB12 Sleepwear -- comprising sleepwear such as pajamas with bioceramics technology that help wearers sleep satisfactorily and recover quickly. The sports clothing and accessories brand retails pajamas for between $80 to $100 online.
The sports apparel brand partners with sleep specialists to study sleep behavior
A sleep researcher advocates that the best way for athletes to enhance performance is to get quality sleep. Under Armour teams up with sleep specialists at John Hopkins School of Medicine as a partner to investigate how sleep can influence behavior effectively.
An analysis on sleep behavior led by partners will help determine new sleep products for athletes as well as customers.
"We are providing athletes with untapped insight and guidance into the importance of sleep and recovery in a way that's truly unique," Under Armour's president of innovation and category management Kevin Haley said in a statement.
Under Armour aims to increase wellness-related technology platform to generate sales revenue
Growing at a compound annual growth rate of 17.8 percent from 2015 to 2020, the global market for the "wearables technology" product is projected to be valued at $31.27 billion by 2020, according to Market Research Reports. Under Armour has projected the wearables technology market will generate $200 million in revenue by 2019.
As Nike remains the sportswear market leader, NPD Retail Tracking cited in October 2016 that Under Armour has fallen to the No. 3 spot as Adidas attained to become the second biggest sports apparel brand in the United States again. As Under Armour shares decline 34% on lower growth forecast over the past one year, Plank noted that the retail sales strike at a slower economic growth.
As of 2016, Under Armour obtained $5 billion in annual revenue. The company believes that the possible way to achieve $10 billion in revenue by 2020 is to enhance technology platform, according to financial news TheStreet, Inc. Under Armour has acquired and created apps such as UA Record and HealthBox that would enable consumers to track sleep and fitness performance.
In efforts to enhance technology platforms, Under Armour has associated with companies, including IBM and SAP to expand fitness apps or systematic training plans to reach needs of individuals. Since the company possesses multiple wellness apps, approximately 194 million people are using connected fitness apps thus far.
