Streetwear Boosts Lululemon Profits

Lululemon’s sales have declined noticeably in the past three months and Chief Executive Officer, Laurent Potdevin, and trying to add some pieces to the collection to boost sales again.  Potdevin will be adding more seasonal and fashionable items versus the more basic yoga and workout apparel.  Lululemon is also trying to add more “staple” pieces to their collection so consumers purchase the basics in their closet.  They are also trying to speed up their growth overseas in men’s apparel.  All in all, Lululemon is trying to veer away from its core competency in activewear and expand into street wear to try and increase sales to as high as they can be.

One big cause for Lululemon’s sudden drop in sales is when they had to recall their Lunon yoga pants because they became too transparent with the wearer bent over.  About two weeks after this recall, current CEO’s began to step down and new ones took their spot.  This is when the new “staple” items became thought of and put into action.  I can’t wait to see what Lululemon has to offer with their new leaders and I am excited to see what the seasonal items are like!

http://www.businessoffashion.com/2014/09/streetwear-boost-lululemon-profits.html

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2 thoughts on “Streetwear Boosts Lululemon Profits

  1. I thought this article was interesting as well. Mainly because I can’t decide if I like this new idea of bringing “staple” pieces and street wear into Lululemon’s activewear lines. It is definitely a smart idea to bring profits back up after having such a hard time over the last year or so though. I feel like, if done right, these new pieces could definitely be a huge success because people already currently wear Lulu yoga pants as casual wear. I just feel like, since they are mainly an activewear company, if they drift too far away from that feel and appearance their customers may not respond as well as they would have hoped. As long as they are reasonable with this transition I’m sure it will go well. Either way, I’m excited to see what Lululemon has planned!

  2. When I think of Lululemon I always think of my pilates class and the cute tops and leggings that come through the door. This may be a smart move as a lot of women (especially college-aged, a target market) like to wear leggings as pants/ street wear. If marketed properly, this could be a major turn around for the company.

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