The growth strategy includes a plan to double men’s and digital revenues, and to quadruple international revenues. The company’s core women’s business and its agile store formats in North America will also remain focus areas and are expected to generate revenue growth in the low double digits annually for the next five years.
“We’re ready to build upon our success and embark on the next phase of growth at Lululemon to realise the full potential of our brand,” said CEO Calvin McDonald. “We believe Lululemon has a unique opportunity to push beyond traditional expectations to develop innovative products and become a fully experiential brand that creates compelling experiences for guests who want to completely live into the sweatlife.”
The Power of Three strategic plan also includes contributions from new product categories and offerings, such as its membership program which is currently in pilot, as the company further leverages its position as an experiential brand for guests across channels.
The company expects to more than double the size of its men’s revenues by 2023. In addition, its plans call for continued expansion in the women’s and accessories businesses. Both existing and new product categories are planned to grow, with lines supporting yoga, running and training. There are also plans to continue its product collaborations, expand its popular Office/Travel/Commute category, and pursue new opportunities, such as self-care.
Expecting to more than double its digital revenues by 2023, the company will focus on offering an integrated guest experience across channels which are intended to inspire, provoke and celebrate guests who live a healthy and mindful lifestyle across multiple experiences – such as events, dynamic new store formats, and its innovative membership programme that fosters connections among guests.
Expanding across China, as well as the APAC and EMEA regions, will be continued areas of focus for the company. The company also believes that considerable growth potential remains in both the US and Canada and it plans to leverage its agile store formats, digital experience, and community connection. (RR)
Fibre2Fashion News Desk – India
| On 28th Sep 2021
Taking historic and decisive action to help keep workers safe on the...
| On 28th Sep 2021
The Asian Development Bank has approved a $250-million policy-based...
Spurred by record global imports, US cotton exports in 2020-21 were...
Luxury is not just about high prices but ability to create desire
The pandemic has reinstated need for organised retail spaces in Tier II...
Great step towards realising end goal of 'AtmaNirbhar Bharat'
Mumin Can Eker
Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...
Dhirubhai & Arvind Shah
It supplies synthetic fabrics to top international brands like M&S,...
EptaInks is the screen-printing division of Eptanova, a company that...
Thomas Ong P S
Malaysian company NanoTextile Sdn Bhd taps into the potentials of...
German company Dilo Group is one of the leading equipment suppliers of...
Garware Technical Fibres Ltd
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Purple Style Labs
Late Indian fashion designer Wendell Rodricks, is known for his...
Megha Kumari & Jigar Mali
Label Megha & Jigar
New Delhi based label Megha & Jigar blends India's unique handcrafts...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.