Sweat, Grow and Connect is the vision of Lululemon
The coronavirus outbreak has improved Lululemon’s sales. As a result, the sports and leisure clothing company is now attempting to expand to the rest of the globe. Unlike most other garment brands, Lululemon benefited from the coronavirus outbreak. The demand for sporty leisurewear in North America almost exploded, according to the company, which is known for its costly leggings worn by celebrities such as Meghan Markle. In recent months, the company’s stock market valuation has increased to $50 billion (41 billion euros).
Strong Online presence
Lululemon has a strong online presence and provides customers to shop on both the website and the mobile app. Online channels were not only used for sales, but also as a platform for engagement. The company recognized the importance of adapting to the new ecosystem and provided lockdown routines to its customers, who could access a variety of free home workouts such as yoga, high-intensity interval training, strength training, and meditation. Lululemon also launched free sports challenges in collaboration with the Strava app, such as the Move and Stay Connected challenge, in order to build a global community.
Exceptional Growth
The company’s overall sales increased by 22%, with overseas sales increasing by 45 percent, including a 100% increase in China. Still, only 14% of Lululemon’s revenue came from outside the United States as of this fall. The athleisure company is planning an international shop expansion and marketing push from the United Kingdom to Japan, which may triple its earnings from outside the United States.
Future Expansion Challenges
Lululemon is famous as a female clothing brand and it is also reflected on their websites as well. Lululemon achieved success by targeting very specific consumers: females, the wealthy, millennials, and interested in niche fitness such as yoga. They are now attempting to attract a more diverse global customer base. The challenging part is Men’s clothing as it can provide more opportunities for a brand like this. Finally, I would advise this brand to expand by focusing on its existing customers and targeting the men’s segment in order to achieve global expansion in the yoga clothing niche.
