Kevin Plank believes Under Armour is an elite brand, and elite brands don’t give discounts — or at least not as many as his company has been.

The Baltimore-based apparel company has recently been slashing its number of online promotions, pushing consumers to pay full price, Plank told investors Thursday.

The discount pullback is part of Plank’s mission to revive the brand he founded in 1996. He led the company for years, but Under Armour announced in 2019 that Plank would step down as CEO. The 51-year-old returned in that role earlier this year, after Under Armour parted ways with a former hotel executive who held the title for just over a year.

Plank’s remarks on Thursday followed a tough but promising quarterly earnings report. The company reported it lost about $300 million, but the results beat Wall Street’s expectations, and the stock price surged by more than 18%.

Throughout Thursday’s earning call, he repeatedly referred to Under Armour as a “sports house” — a riff on the term “fashion house.” The top fashion houses are European companies with rich histories and premium brands that dominate the fashion world, Plank said, and there is a similar phenomenon in the world of athletic apparel.

“Across the sports brand landscape, we believe there are less than five brands that can be represented on this podium for sports globally,” Plank said. “We are one of them.”

Some of the company’s recent revenue losses came as it stopped offering so many online discounts, Plank said. That led to a big hit in sales, he said, but there was a bright spot: An uptick in consumers paying full price.

According to Plank, those “higher-average order values” bode well for Under Armour’s future.

“Last year, when we sent an email to consumers, two-thirds of these messages were about discounts or promotions, and one-third were focused on full-price selling and storytelling,” Plank said. “This year, that ratio is now inverted.”

For too long, the company has generated sales by slapping its logo and an attractive price tag on a product, Plank said.

Racks of discounted Under Armour clothes at department stores like Kohl’s have long been ubiquitous, and the brand is a staple of online retail sales.

Instead, Plank said, Under Armour should be focused on creating the best products possible ― and marketing them aggressively.

That includes paying more social media influencers. Plank pointed to the recent signing of Haley and Hanna Cavinder as an example. The twins play basketball at the University of Miami and have millions of followers on TikTok.

“Over the next few years, we intend to double the number of influencers in our creator program to lean into fresh new content to drive reach and engagement,” Plank said.

The pivot away from discounts comes as Under Armour recently announced a partnership with Spanish luxury fashion brand Balenciaga. The collaboration features products including oversized tees ($795), baggy sweatpants ($1,290), zip-up hoodies ($1,450), large shorts ($1,150) and a baseball cap ($475).

Plank said he doesn’t mind if his approach means that fewer people buying Under Armour products on clearance sales, whether it’s online or at outlet stores. As the company trims its offerings and focuses on a smaller array of core products, Plank said Under Armour won’t need discounts to lure consumers.