Lululemon athletica, the US-based yoga inspired athletic clothing company, has stitched plans to focus on menswear collection for future growth of the company by investing more in the sector.
Ms. Christine Day, CEO of Lululemon, said the company is gaining a lot a grip in Canada in menswear section and there is a plan to make a large investment in the sector. She was giving his speech at the 15th annual ICR Xchange Conference in Miami.
According to Ms. Day, for Canada in particular, the investment in menswear line can lead to an enormous growth for Lululemon. She informed that over a year and a half ago, menswear accounted for eight percent of the company’s sales and currently it has grown to twelve percent, with holiday season sales recording fifteen percent.
She mentioned that the company offered discount on only two percent of its stocks during the holiday season sale.
Talking about Lululemon’s expansion plans in international market, she said the company is planning to expand its business in Asia and Europe by opening new outlets in the Netherlands, Hong Kong, Germany and the UK by 2014.
She added that it has 211 stores all over the world, among which 135 stores are in the US. The company is planning to increase its store count in the US to 300.
Lululemon athletica manufactures technical athletic apparel for yoga, running, dancing and other sweaty pursuits.