Vulcabras Ramps Up for Under Armour Production
The Brazilian shoemaker and UA licensee will make five new models of Under Armour shoes alongside its Olympikus, Azaleia and Dijean brands in two main factories that it expanded last year to over 1.3 million sq. ft. The country-specific Under Armour models were developed locally with Vulcabras’ own technologies for greater profitability in the Brazilian market.
In the final quarter of 2019, net income dropped 3% to R$45.1 million ($8.8m) on 6% higher revenues of R$373.9 million ($72.9m). Gross margin declined 200 basis points to 35.8%. Athletic footwear sales rose 5% in the quarter, representing 74% of total turnover, with Under ... Log in to view full article.