Under Armour (UA 0.48%) (UAA 1.08%) is shaking up its product team. The sports apparel specialist announced Wednesday that it has hired Lisa Collier as its new chief product officer. Collier's background includes leading NYDJ (Not Your Daughter's Jeans) and working for 13 years as an executive with Levi Strauss.
"Lisa is an exciting addition to our leadership team," CEO Patrik Frisk said in a press release. "Her strength as a retail leader will be invaluable as we continue to execute against our long-term strategies."
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Collier will report directly to the CEO and is responsible for steering key parts of Under Armour's business, including its merchandising and design strategies. She joins at a difficult time for the business, which has lost market share to rivals like Nike and lululemon athletica. Under Armour last reported a 4% sales increase for the fiscal fourth quarter as sales continued to shrink in the key U.S. market.
The company is hoping that better product execution will help it return to growth once its stores reopen following COVID-19 containment measures. "I will utilize the knowledge and experience gained over the course of my career to ensure the success of Under Armour's mission," Collier said.
