Retail: 67
Retail: 201

Lululemon Just Does It Again

Lululemon is aiming to keep its momentum going in 2019.

Vancouver-based Lululemon is moving in a number of directions aimed at keeping its momentum going in 2019 and beyond with men’s, running, international and Direct-to-Consumer four key drivers. In the fiscal year ended Feb. 3, LULU reported 55 percent growth in operating income to $705.8 million, 45 percent in DTC sales and 24 percent topline growth to $3.3 billion. The company intends to lay out more detail on its go forward strategies for infrastructure, technology and supply chain at an analyst day this month.

Lululemon CEO Calvin McDonald calls the men’s category one of the brand’s “largest and most exciting areas of future growth” for both current and new lululemon customers. Said to be growing at a faster rate than women’s, Lulu’s men’s expansion has been sparked recently by the pants category with a smaller outerwear category also gaining some momentum in 2018.  

Lululemon is scheduled to rollout a new branding campaign tied to running shortly.

“Run is an opportunity for us to continue to grow with existing guests,” McDonald told analysts last week. “…And our assortment is being known as a run destination for apparel. Technical apparel for both men and women is a large opportunity.”

Meanwhile, lululemon says it’s in the early stages of developing a digital ecosystem that will enable it to engage with customers in a more personalized way and make ongoing improvements in search, navigation and checkout functionality. Digital websites for the brand are being launched in France, Germany and Japan in 2019. In Q4, the company said digital traffic to its sites rose more than 30 percent as conversion increased in the low-single digit range.

Within the executive suite, COO Stuart Haselden is adding responsibility for international, and the company has begun a search for a new chief brand officer to oversee branding, events, partnerships, social impact and sustainability. Sun Choe continues as LULU’s chief product officer.

Mon, Aug 28, 2017
Vol 1, Issue No. 33