A company named Under Armour is betting that it can compete with major brands like Nike and New Balance in the running shoe category despite the recession. Canadian Press reports that the company believes it can become the world's No. 1 performance brand.
Under Armour is betting it can compete against the likes of Nike in one of the biggest categories in the shoe world and in the midst of a recession.
"We're dead set on becoming the world's No. 1 performance brand and running is a part of that," said Steve Battista, senior vice president of brand at Under Armour Inc.
Industry experts wonder how a newcomer facing all the same challenges as more-established players will be able to drum up demand when consumers simply aren't spending like they used to.
"This is a really tough time to be launching anything new," said SportsOne Source chief analyst Matt Powell. "The inclination (of the consumer) to try something new just because it's new is low."
A report here says revenues fell for the ambitious sports apparel company in the 4th quarter as consumers cut back on athletic gear.
A company named 
