×
856
Fashion Jobs
L'OREAL GROUP
CRM Manager
CDI · Montreal
TJX CORPORATE
Business Planning Analyst
CDI · Mississauga
L'OREAL GROUP
Key Account Manager
CDI · Montreal
ZARA
Store Operations Manager (Toronto)
CDI · TORONTO
ZARA
Gérant de Département (Place Rosemère)
CDI · ROSEMÈRE
LEVI'S
sr. Manager, HR Business Partner
CDI · Richmond Hill
ESTÉE LAUDER COMPANIES
Operations Manager
CDI · Markham
ESTÉE LAUDER COMPANIES
Manager, E-Commerce (2 Vacancies)
CDI · Toronto
PUMA
Manager, Marketing
CDI · Toronto
L'OREAL GROUP
Trade Marketing Manager
CDI · Montreal
TOM FORD BEAUTY
Marketing Manager, Tom Ford, by Killian & Frederic Malle (1 Year Contract)
CDI · Toronto
RALPH LAUREN
Polo Factory Store - General Manager
CDI · Winnipeg
MAC
Bilingue Directeur(Rice) Régional Des Ventes/ Bilingual Field Sales Manager - (Retail Partner) - Mac Montreal,qc
CDI · Montreal
ESTÉE LAUDER COMPANIES
E-Commerce Manager, Mac Brand
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Security Ambassador
CDI · Mississauga
NORDSTROM CANADA RETAIL INC
District Manager Asset Protection Eaton Centre
CDI · Toronto
ESTÉE LAUDER COMPANIES
Senior Manager, Accounting & Controls
CDI · Toronto
FOOT LOCKER
Overnight Assistant Operations Manager
CDI · Vaughan
FOOT LOCKER
Overnight Assistant Operations Manager
CDI · Brampton
ESTÉE LAUDER COMPANIES
Operations Manager/Group Leader - 3rd Shift
CDI · Markham
L'OREAL GROUP
Spécialiste Assurance Qualité
CDI · Montreal
L'OREAL GROUP
Préparateur(Trice) de Commandes (Quart de Weekend)
CDI · Montreal
Published
Dec 20, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Under Armour completes sale of the MyFitnessPal platform to Francisco Partners

Published
Dec 20, 2020

Baltimore, Maryland-based athleticwear company Under Armour Inc. has completed the sale of its MyFitnessPal platform to Francisco Partners, a private equity company. 


Twitter @MyFitnessPal


The company first announced that it would sell MyFitnessPal to Francisco Partners for a total of $345 million in October. At the time, the announcement caused the athleticwear company's shares to rise by 1.58%. 

Launched in 2005, MyFitnessPal is a diet and fitness app and website that allows users to log their food intake and track their nutrition, as well as their exercise. The app was bought by Under Armour in 2015, at a time when MyFitnessPal had over 80 million users, for $475 million. Over time, the number of users on the app grew to over 200 million. 

In 2018, Under Armour's shares dropped by 3.8% after the company announced that MyFitnessPal had been hacked, placing the username, email address, and password information of about 150 million of the app's users at risk. 

Debt financing for the sale was provided by MidCap Financial.

"As part of our ongoing transformation, we are committed to actively managing our business to ensure that our strategies and assets are prioritized to connect even more deeply with our target consumer – the Focused Performer," Under Armour president and CEO, Patrik Frisk, said in October. 

"This announcement reduces the complexity of our consumer's brand journey by empowering sharper alignment with our long-term digital strategy as we work towards a singular, cohesive UA ecosystem. Additionally, it affords us investment flexibility to drive greater return and value to our shareholders over the long-run."

In October, Under Armour beat quarterly revenue estimates, thanks in part to online demand for athletic apparel and sneakers, as more consumers work out at home or outside during the Covid-19 pandemic. The boost marked a bright spot for Under Armour after the company saw its revenue plummet by 41% in the second quarter, as the pandemic caused physical stores to temporarily shut down. 

The company predicted its full year 2020 revenue to be down by a percentage in the high-teens, a significant improvement from the 25.7% drop previously predicted by analysts. 

Copyright © 2021 FashionNetwork.com All rights reserved.