Under Armour taking technology by storm

Under Armour
UA CEO: The digital future   

Almost a decade ago, Jim Cramer told investors to try to get a piece of an IPO for a small company called Under Armour. Sure enough, the stock took off on the first day of trading and hasn't looked back since.

So, while there are always inevitable days like Wednesday when the averages are down, Cramer doesn't want investors to be scared away from high quality stocks like Under Armour.

"Under Armour is what I like to call a stealth technology company," said the "Mad Money" host.





Kevin Plank, CEO of Under Armour.
Katie Kramer | CNBC
Kevin Plank, CEO of Under Armour.

This company has taken innovation by storm, stepping up the game for athletic wear, footwear and has even recently moved into technology by creating apps that track calories and fitness.

And of course, Cramer attributes the success of Under Armour to CEO Kevin Plank. Will Plank's stock be just as strong of a competitor in the stock market as it is with performance apparel? Cramer spoke with Plank to find out.

Plank elaborated on the clear vision that Under Armour has to expand its digital presence into the future of the company: "Because we had this great healthy shirts-and-shoes business, we were able to build this new layer of adding digital to our business that will give us this new complexion that I think that presents us to be ready for the next decade of growth."

The CEO expanded on this, saying that when he watches shoppers walk into a store he has noticed that they are always looking down at their phones to compare pricing and obtain data on what they are looking for.

Under Armour is looking to be in the center of that information delivery, especially as it takes its digital approach into new markets globally.

"With 130 million-plus people now on our platform…the first handshake they may have with the Under Armour brand may very well be a digital handshake, and we are very proud of that," Plank said.

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Based on his research, Plank estimates that as many as 50 billion retail items will have a connected chip by 2020; Under Armour plans on being a part of that connectivity of apparel.

"If you asked me five years ago if we were going to be buying apps and what we were going to be doing, we would have had no idea!" Plank said.

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