2017 was not an easy year for Under Armour, as the stock fell over 50%. Jim Mollica, Head of Global Consumer Engagement and Digital Marketing at Under Armour, discusses how the company is using technology to revitalize the brand.
Mollica shares the company's strategy to improve sales and get young people excited about the Under Armour brand. He says they are focusing on creating a performance-based product that has an element of style. Under Armour wants to elevate its story-telling and digital content with athletes and games, to help engage people around the brands.
To bring the integration of sports and technology to the next level, Under Armour will launch a new smart shoe at CES using a new cushion technology called HOVR. Mollica explains that the tech creates an energy web that reduces wear and tear and stress during workouts.
OpenAI could now be the world’s most valuable startup, ahead of Elon Musk’s SpaceX and TikTok parent company ByteDance, after a secondary stock sale designed to retain employees at the ChatGPT maker. Current and former OpenAI employees sold $6.6 billion in shares to a group of investors, pushing the privately held artificial intelligence company’s valuation to $500 billion, according to a source with knowledge of the deal who was not authorized to discuss it publicly. The valuation reflects high expectations for the future of AI technology and continues OpenAI’s remarkable trajectory from its start as a nonprofit research lab in 2015.
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