Kevin Plank has proven to be a businessperson of his own. He has brought out another angle of conducting business and the spirit one needs to have as a determined businessperson. Having sold rose flowers to lovers, especially on Valentine’s day and T-shirts to those who attended concerts, plank decided to launch a company that produces sportswear. He started a company called Under Armour in 1996, and for the past 23 years, it has accorded him great glory in the business world. The idea of beginning Under Armour was preconceived by Kevin Plank when he was playing football. He felt like being too heavy and sweaty in the shirts that they wore while playing and decided to come up with t-shirts whose material could always remain dry and light. After assessing several cloth materials, Kevin chose microfibers that make women’s undergarments.
He withdrew all his savings of $40,000 to produce a prototype of the T-shirt, which was skin tight and had the openings on the diaphragm. Plank gave the t-shirts to his former teammates who played in them and became so happy that they made them feel cool and light. They promoted it to other teams who came to purchase them. In that year, 1996, he made sales of $17,000. In 1997, after several people had used the t-shirts, most of them proposed that Kevin Plank make them warm. He went back o the drawing board and came up with two products called ColdGear and AllSeasonGear. The t-shirts here were long-sleeved and warm, which made the users happy.
Kevin Plank moved the company to Baltimore in 1998, where his friend connected him to a costume designer to supply the products for movie actors in a move to feature in the NFL. He won the deal and provided all the costumes that the fictional Miami Sharks wore in the movie. He also put an advert in ESPN magazine at the cost of $25,000, which attracted 8,000 responses and shot the sales up to $800,000. The brand became so popular, and the sales increased hugely to $5,000,000. Later, in 2001, the company was now the official supplier of NFL outfits and other companies like MLB. Under Armour became so famous that it even increased the stock price. They also added other items like shoes for athletes, moisture-wicking men’s underwear, women’s sports bras, and umbrellas. The company profits, as at the close of business of 2018, stood at $3.5 billion.
Wes Edens, the Chief Executive Officer of New Fortress Energy (NFE) reported an update on the progression of its projects. In a conference call on August 13th, he said the company is on a good start the first six months of this year. His focus is on the development stage, NFE is about to begin its operations in Jamaica and Puerto Rico. Mexico is under construction and expected to be in operation by the end of the second quarter in 2020. Wes Edens is the Co-founder of Fortress Investment Group (FIG), a company he established with Randall Nardone in 1998. He heads the private equity division specializing in transportation, energy & infrastructure, financial services, and healthcare.
In the energy industry, his investments include energy production, storage, and transportation projects. He is working on the completion of terminals in Jamaica, Mexico, and Puerto Rico. In a few days, Wes revealed in the conference call the Jamaican power plants are almost complete with the 150 megawatt and 90 megawatt projects. Between December 2019 and June 2020, all constructions and online productions should be up and running fully in all three countries. Since the end of June of this year, over one million gallons of volumes from the pipelines made production. Now that the pipelines and power plants are in its operational stages, Wes Edens plans to build terminals in Pennsylvania.
New Fortress Energy is already marketing LNG cargoes in Central America, the Caribbean, and West Africa. NFE is a subsidiary company of Fortress Investment Group and together under the ownership of SoftBank, a Japanese investment firm. Wes Edens serves as CEO and Chairman of New Fortress Energy and Co-CEO at Fortress Investment Group. He founded NFE in 2014 and holds the majority interest in the company which has a value of $1.7 billion. Wes Edens is a graduate from Oregon State University and holds a bachelor of science degree in finance. He brings years of experience in finance, investments, hedge fund management, and leadership. Within five years of establishing New Fortress Energy, the company continues to grow further in the Caribbean and the United States.
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Sustainability is a common concept in the world of engineering, but for Toyo Setal, it is an identity. For the past seven years, the Brazilian company has illustrated that creating strong structures, under normal budgets is possible. Thanks to the company’s scorecard in this niche, it has worked with multinational entities, local companies, and government agencies. In each project, the company has also set a new record as far as completing projects is concerned.
What makes Toyo Setal unique in this part of the world?
First, the company’s approach to innovations makes it unmatched. In a 2017 survey in the most innovative companies in Brazil, the company’s name was among the industry leaders. Through innovations, the company has achieved the following. Innovations have helped the company to reduce the amount of time taken to complete projects. Investing in better ways to construct has also enabled the company to use fewer resources — without affecting the quality of each project.
Second, the Brazilian company appreciates the importance of operating in partnerships. The partnerships have enabled Toyo Setal to access more jobs in the competitive market. In addition to assisting the company in accessing jobs, partnerships have enabled the company to utilize the available talents in the industry. Instead of importing experts from other continents, the company works with Brazilian experts and therefore reducing the average cost in each project.
Thirdly, the quality of management also plays an important role in the company’s efficiency. Toyo Setal is fortunate to have some of the best managers in this part of the world. All the managers from this company have unmatched experience in each market segment. The managers also understand the market dynamics and how the company can utilize the trends to its advantage.
Finally, it is impossible to talk about Toyo Setal without mentioning the company’s relationship with authorities and government agencies. Having a perfect relationship with government agencies means that completing the projects on time is a guarantee. A perfect relationship with the government agencies also enables the company to access different services — such as timely updates on legal changes. The updates have enabled the company to be a progressive firm in a growing market. Learn More.