×
181
Fashion Jobs
GIOVANNI RASPINI
UK Sales Manager
Permanent · LONDON
PAUL SMITH
Junior Art Director - Japan
Permanent · TOKYO
STEPHANIE JACKSON RECRUITMENT.
Supervisor - Watches / Diamonds
Permanent · LONDON
THE POP GROUP
Account Manager
Permanent · LONDON
SANDRO UK
Sales Assistant - 16 Hours - Brighton Store m/f
Permanent · KANSAS CITY
VIVIENNE WESTWOOD LTD
Store Manager
Fixed-term · YORK
PAUL SMITH
Wholesale Ecommerce Support Intern
Internship · LONDON
PAUL SMITH
Deputy Manager - Mayfair
Permanent · LONDON
SANDRO UK
Assistant Store Manager m/f
Permanent · LONDON
GUESS UK
Assistant Manager - Icon o2
Permanent · LONDON
LEVI'S
Retail Assistant - 8 Hours
Permanent · Gloucester
SANDRO UK
Store Manager - Harrods Menswear m/f
Permanent · LONDON
CAGECITY LONDON
Fashion Marketing Intern - Tiktok/Instagram
Internship · LONDON
GRAND DUCHY INC
Ecommerce And Marketing Intern - Skin & Haircare
Internship · LONDON
GRAND DUCHY INC
Graphic Design Intern
Internship · LONDON
GRAND DUCHY INC
Digital Marketing And Social Media Intern
Internship · LONDON
GRAND DUCHY INC
Copywriter Intern
Internship · LONDON
NEW BALANCE
Retail Associate (20 Hours) - Livingston
Permanent · Livingston
VOIR FASHION
Fashion Journalism - Remote Writing Internship
Internship · LONDON
VOIR FASHION
Fashion Journalism - Remote Writing Internship
Internship · LONDON
THE KOOPLES
Full - Time Sales Assistant - Birmingham
Permanent · BIRMINGHAM
SUZIE TURNER
Executive Assistant And Global Client Manager Internship
Internship · LONDON
Published
Apr 25, 2019
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Lululemon bets on product innovation, expansion for 5-year growth plan

Published
Apr 25, 2019

Lululemon Athletica Inc. may have ended 2018 with $3.3 billion in sales, but the company plans to grow far beyond women's yoga pants by 2023.

Lululemon bets on product innovation and expansion for 5-year growth plan. - Facebook: Lululemon


The Vancouver, British Columbia-based company unveiled on Wednesday a new group strategy that will fuel its growth over the next five years, which includes plans to double men’s and digital revenues, and to quadruple international revenues. 

“We’re ready to build upon our success and embark on the next phase of growth at Lululemon to realize 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 word “opportunity” was used repetitively during the company’s investor meeting on Wednesday; opportunity for fabric innovation, opportunity for omni-channel guest experiences, and opportunity for continued market expansion, among the many other factors the company believes will help fuel success and reach its goal of total annual revenue growth in the low teens for the next five years.

Among its ongoing product innovation plans, Lululemon emphasized growing its men's offering, selling products that go beyond yoga. The company will focus on growing its offerings for runners, as well as strength training, with products designed with increased support and technology, specific to each sport.

Likewise, Lululemon will also home in on its accessories line including fitness rollers and accessories such as bags and training gloves. The company also announced plans to expand into footwear.

As of June, Lululemon will roll out its self-care line to 50 stores, which includes items like deodorant, dry shampoo and lip balm, and is optimistic about the potential of this latest offering.

The company’s guest experience - an important component of the brand’s success - will be amplified over the coming years to again serve customers beyond yoga and to be better represented across all channels. With plans to more than double its digital revenues by 2023, the company said it will focus on inspiring, provoking and celebrating guests both online and through in-store experiences.

Lululemon’s loyalty membership program, which is currently being piloted in Edmonton and Denver, is expected to help that growth. The program provides members with exceptional perks like fitness classes, exclusive product access and other perks for an annual fee.

The company has already announced plans to open a 25,000 square-foot experiential store in Lincoln Park in Chicago in July 2019, complete with yoga studios, meditation space, healthy juice and food, and areas for community gatherings - embodying its experiential brand ambitions. 

Meanwhile, it is also looking internationally to help reach its goals, but believes that considerable growth potential remains in both the U.S. and Canada by leveraging its store formats, digital experience, and community connection.

Internationally, expanding across China, as well as the APAC and EMEA regions, will be continued areas of focus for the company, it said.

“Lululemon is purpose-driven and is positioned well to continue to inspire guests living the sweatlife across multiple experiences,” McDonald added. “We believe we are operating from a position of strength as we invest in creating dynamic experiential moments for our communities to connect and come together.”

Looking ahead, the company is expecting to see first-quarter net revenue in the range of $740 million to $750 million, based on a total comparable sales increase in the low-double digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $0.68 to $0.70 for the quarter.
 
For the full fiscal 2019, Lululemon expects net revenue to be in the range of $3.7 billion to $3.74 billion, based on a similar low-double digit comparable sales increase on a constant dollar basis. Diluted earnings per share are expected to be in the range of $4.48 to $4.55 for the full year.

Copyright © 2021 FashionNetwork.com All rights reserved.