Views: 27 Author: Site Editor Publish Time: 2021-02-18 Origin: Site
Lululemon doesn’t offer cheap yoga clothes, instead the price is high. What’s the magic ?
Lululemon, regarded as the "next Nike", once again becomes the best performing sportswear group this year.
According to Fashion Business News, in the three months ended November 3, the sales of lululemon surged 22.5% year-on-year to US$916 million, higher than analysts’ expectations. It has recorded double positions for 10 consecutive quarters. The number gross profit margin was 55.1%. Operating profit soared 29% to 176 million US dollars. In the first nine months of this year, lululemon sales rose 21.7% to $2.581 billion.
Lululemon has fitness apparel manufacturer in Vietnam with Responsible Supply Chain.
During the reporting period, the sales of men's sport clothing, e-commerce and international markets became the main key force for lululemon's performance growth. Among them, the sales of menswear in the third quarter rose by 38%, and the sales of core women yoga work out clothes business rose by 20%. Revenue from the international market rose by 35%, and brand sales in the North American domestic market rose by 21%.
On the whole, lululemon is still on the rise. CEO Calvin McDonald said in the financial statement that the onging growth of performance is mainly because of the stable and reliable connections built between the brand and consumers all over the world. The development plan he proposed after taking office is gradually taking effect.
Calvin McDonald was appointed as the CEO of lululemon in July last year. After taking office, he promoted Sun Choe to chief product officer, starting new opportunities for the brand. Sun Choe has worked for many fashion brands such as Marc Jacobs, Urban Outfitters and Madewell with has rich relevant experience and a keen sense of fashion. You know that in 2017, lululemon was rated as one of the least cool and least well-known fashion brands by Generation Z in the United States.
In April 2019, lululemon held its first shareholder meeting and announced a new strategic plan. It decided to expand into the personal care and menswear fields to achieve greater growth for the brand. It plans to double the gross sales in the international market.
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