Last week, Colorado State University (CSU) announced an almost 35% increase in licensing revenue in 2015-2016 from the previous year.
The athletic department reported revenue of $478,866, an increase of $123,706 from the 2014-2015 year. CSU is now in the fourth year of its partnership with Under Armour, whose apparel accounts for 40% of the school’s total sales.
“Our association with the Under Armour brand provides a significant benefit for our fans and strengthens our ability to generate revenue through the sale of branded merchandise,” says Joe Parker, CSU’s director of athletics. “It enhances our engagement and our student experience. As our licensing revenue grows, it affords us the opportunity to further develop the overall experience for our students.”
In December 2015, the university and Under Armor agreed to a five-year contract extension worth $11 million. – M.Q.