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


Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Top executives, Textile Industry

Top executives
Textile Industry

We will move away from mass production to production in micro-factories

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On

Follow Fibre2Fashion On


Advanced Search