Home / Knowledge / News / Apparel/Garments / Lululemon Athletica looks to recover with management rejig
Lululemon Athletica looks to recover with management rejig
19
Dec '13
Lululemon Athletica Inc., a self-described yoga-inspired athletic apparel company, was till now unaffected by the falling consumer confidence and competition from online fashion brands, but it seems, the Vancouver, British Columbia based company has been stung by the retail gloom and some bad PR.

After reporting better than expected third quarter results, Lululemon dimmed its outlook for the next quarter and fiscal 2014 due to the supply chain issues, overall weak traffic trends and the projection of weaker Canadian dollar. It said that the all-important Q4 is estimated to be ho-hum after years of double-digit growth it had posted.

With the retail space getting competitive every day, Lululemon has begun to feel the heat with lower traffic at its stores. Lululemon is finding it difficult to convince its customers to buy its high-priced athletic wear when competitors are offering cheaper options.

On the other hand, the quality of its products, off-late, has also disappointed many customers, leading to the departure of its CEO Christine Day who was blamed for the inferiority of company’s core product, a black Luon yoga pants. She will be replaced by Laurent Potdevin, former president of TOMS Shoes.

Lululemon has also announced Michael Casey as the replacement for its chairman Chip Wilson, who holds roughly a nine per cent stake in the company, just weeks after his controversial comments on the Luon yoga pants.

To recover from the setbacks and to keep tabs on consumer response, Lululemon has started conducting brand perception surveys. The company has also replaced its existing suppliers and intensified quality controls.

Founded 1998 by Dennis "Chip" Wilson, the first Lululemon retail store was opened in Kitsilano, a Vancouver neighborhood. Today, Lululemon operates approximately 201 stores, with the majority in North America.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search