Under Armour is one of many retailers today executing an omni-channel business, selling products in retail stores and online. Under Armour's direct-to-consumer (DTC) business has been growing at a healthy 31% per year for the last five years, and in Q4 was 40% of the company's overall revenue. In the company's most recent earnings call, CEO Kevin Plank talked candidly about what customers are demanding, how traditional retail is not meeting the mark, and how just investing in e-commerce is not enough. Plank's comment about retail being disrupted seems to be "code" for losing sales and relevance. He clearly recognizes the "Amazon effect" and how the e-commerce giant has raised customer's expectations, but what is Under Armour's answer to the Amazon threat? Plank's quote is not easily decoded unless you understand that he wants to disrupt the apparel manufacturing process, which has been done the same way for the last 100 years.