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

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sachin Sharma
Gem Enviro Management Pvt Ltd

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kevin Nelson
TissueGen

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search