Under Armour (UA) - Get Report has long prided itself on being a premium athleticwear brand, but that may be about to change slightly as it tries to rake in more profit for investors.  

"While Under Armour hasn't announced it is starting to sell at J.C. Penney (JCP) - Get Report and/or Kohl's (KSS) - Get Report , we assume the company sees some initial sales from either or both of them later this year or early next year," Morgan Stanley analyst Jay Sole told TheStreet. Under Armour currently doesn't sell its clothes at either of those value-oriented department stores. 

Sole estimates Under Armour could ring up about $275 million in sales next year at J.C. Penney and Kohl's by selling its apparel and footwear. If Under Armour were to sell into Kohl's, notes Sole, the sales opportunity would be about $190 million. Over time, Sole believes J.C. Penney and Kohl's could help haul in roughly $550 million in sales for Under Armour. A source with knowledge of the situation said Under Armour will not launch at J.C. Penney ahead of this year's holiday season. A J.C. Penney spokesman said back in January at an investor conference "not yet" when asked by an analyst about offering Under Armour this year.

A spokeswoman for Kohl's didn't immediately return a request for comment. 

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Has Under Armour's founder and CEO Kevin Plank signed off on entering J.C. Penney and Kohl's?

Under Armour bringing its premium brand to midtier department stores -- in effect opening up the brand to an audience who may have been unable to pay $65 for a stretchy polo shirt -- isn't without risk. Distribution channels such as Kohl's and J.C. Penney may cause erosion of Under Armour's premium brand image among those consumers who can pay top dollar for a moisture-wicking shirt at Dick's Sporting Goods (DKS) - Get Report . Why pay that amount at Dick's when a similar product could be nabbed during a trip to J.C. Penney?

Additionally, Under Armour will be challenged to consistently develop product that is lower priced, lower quality and noticeably distinct from its offerings in higher-end channels. But, according to Sole, Under Armour is building skills in those areas and expects to show the results in 2017. 

The company does have a guide to achieving success in those channels, however. "Nike (NKE) - Get Report sells there [midtier department stores] and maintains a strong brand image as well as excellent relationships with its other retail partners," points out Sole. 

In the end, going lowbrow may just be a necessary evil for Under Armour. 

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Under Armour's sneakers could soon hang on the walls of J.C. Penney. 

"We think the reason Under Armour is preparing to enter Kohl's or J.C. Penney now is because it needs to find new avenues to maintain the sales growth rates the market expects -- otherwise, it probably wouldn't want to take the risk," Sole said, who added that Under Armour's apparel business in the U.S. is maturing. And the market is certainly expecting a lot from Under Armour's top line. Wall Street estimates Under Armour's sales rising by 24% this year, to $4.92 billion, then accelerating to 25% growth next year to over $6 billion. Shares have surged about 40% over the past two years, compared to an 8.4% gain for the S&P 500

Welcome to life as a maturing publicly traded company, UA.