Kevin Plank built Under Armour into a $10 billion business.
The part you didn't know?
Without a college flower delivery business, it would have never happened.
This is the wild story.
Time for a thread 👇👇👇
The part you didn't know?
Without a college flower delivery business, it would have never happened.
This is the wild story.
Time for a thread 👇👇👇
1) Let's start in 1992...
Kevin Plank was a freshman on the Maryland football team, a walk-on that primarily played special teams.
But like any great entrepreneur, he couldn't shake his itch to start a business.
No, I'm not talking about Under Armour...yet.
Kevin Plank was a freshman on the Maryland football team, a walk-on that primarily played special teams.
But like any great entrepreneur, he couldn't shake his itch to start a business.
No, I'm not talking about Under Armour...yet.
2) Following the end of his freshman football season at Maryland, Kevin Plank and his friends had an idea.
With Valentine's Day coming up, they knew there would be high demand for roses, but everyone hated going to pick them up.
The result?
"Cupid's Valentine Rose Delivery."
With Valentine's Day coming up, they knew there would be high demand for roses, but everyone hated going to pick them up.
The result?
"Cupid's Valentine Rose Delivery."
3) Cupid's Valentine Rose Delivery was a simple concept.
Kevin Plank, his friends & his future wife would buy roses in bulk, package them, and deliver them to your dorm room.
Even better, they mastered the up-sell:
“For just $10 more, we’ll arrange the roses in a glass vase!”
Kevin Plank, his friends & his future wife would buy roses in bulk, package them, and deliver them to your dorm room.
Even better, they mastered the up-sell:
“For just $10 more, we’ll arrange the roses in a glass vase!”
4) To acquire customers Kevin Plank and his "colleagues" printed out flyers & placed them around campus.
The first year started out slow, with the business only selling 100 dozen roses — bringing in about $3,000 in revenue.
By senior year?
It was MASSIVE.
The first year started out slow, with the business only selling 100 dozen roses — bringing in about $3,000 in revenue.
By senior year?
It was MASSIVE.
5) By Kevin Plank's senior year, the rose delivery business was booming.
They had a credit card machine, 40 delivery drivers & 5 operators taking orders.
The craziest part?
They grossed over $50k in a single day, turning a $17k profit....all from a dorm room.
Now that's wild.
They had a credit card machine, 40 delivery drivers & 5 operators taking orders.
The craziest part?
They grossed over $50k in a single day, turning a $17k profit....all from a dorm room.
Now that's wild.
6) Kevin Plank says he learned 2 important lessons from his rose delivery business:
1. Never deal in "live" inventory
2. Make sure everyone you work with can count to 12
But most importantly...
Plank graduated with $15k, which he used to start his next company — Under Armour.
1. Never deal in "live" inventory
2. Make sure everyone you work with can count to 12
But most importantly...
Plank graduated with $15k, which he used to start his next company — Under Armour.
7) There have been some bumps along the way, but Under Armour is now a $10B company almost three decades later.
Kevin Plank is worth more than $2 billion himself.
Selling roses from your dorm room, making $17k, and using that to build a $10B company?
Now that's legendary.
Kevin Plank is worth more than $2 billion himself.
Selling roses from your dorm room, making $17k, and using that to build a $10B company?
Now that's legendary.
8) Here's my favorite part of the story:
Kevin Plank ran a 45-employee business doing an inflation-adjusted $30k in profit in a single day from his dorm room.
My point?
The best entrepreneurs have it in their blood & stop at nothing to ensure success.
Remember, winners win.
Kevin Plank ran a 45-employee business doing an inflation-adjusted $30k in profit in a single day from his dorm room.
My point?
The best entrepreneurs have it in their blood & stop at nothing to ensure success.
Remember, winners win.
9) Enjoyed this thread?
You should follow me @JoePompliano.
I tweet interesting stories about the money and business behind sports every day.
You should follow me @JoePompliano.
I tweet interesting stories about the money and business behind sports every day.
10) Prefer a deeper dive than Twitter?
Make sure to sign up for my daily newsletter, where I break down the most interesting sports business stories each morning.
Don't worry, it's free :)
Sign up here: readhuddleup.com
Make sure to sign up for my daily newsletter, where I break down the most interesting sports business stories each morning.
Don't worry, it's free :)
Sign up here: readhuddleup.com
• • •
Missing some Tweet in this thread? You can try to
force a refresh
