Plank was inducted Tuesday by the National Sporting Goods Association during the group's annual management conference in Scottsdale. He was one of two members of the hall's Class of 2017, joined by Larry Aasheim, president of Montana-based retailer and team dealer Universal Athletic.
"Larry and Kevin embody the spirit of innovation and leadership," said Cathy Pryor of Hibbett Sports, who is chairman of the association's hall of fame committee.
Plank and Aasheim joined more than 160 sporting goods industry pioneers and leaders the association has recognized since 1955.
Matt Mirchin, Under Armour's strategic advisor for global revenue and a 13-year executive of the Baltimore company, presented the award to Plank.