WASHINGTON — Baltimore-based Under Armour will open one of its “brand house” retail locations in the former FAO Schwarz space at the base of the General Motors building in midtown Manhattan.
Under Armour CEO Kevin Plank made the announcement during an investor conference call Tuesday morning.
The 53,000-square-foot lease will put Under Armour’s brand in one of the highest-traffic locations in New York City and introduce its products to tourists from around the world.
“We plan to build the most breathtaking and exciting consumer experience ever conceived at retail,” Plank said during the investor call, referring to the FAO space.
Plank did not disclose financial terms of the lease.
FAO Schwarz closed its longtime Fifth Avenue store in 2015.
Under Armour already has a brand house at 583 Broadway in Manhattan. In Washington, there are brand house stores in Bethesda and Tysons Corner.
Under Armour also announced a deal to sell its products in Kohl’s department stores starting in 2017, as it aims for a broader consumer audience beyond its base of athletes and fitness fanatics.
The announcements came following the release of Under Armour’s second quarter results.
The company had $1 billion in quarterly net revenue, up 28 percent from a year ago. But operating income fell 39 percent last quarter, after a $23 million impairment related to the bankruptcy of Sports Authority, one of its major retail sales channels.
