Watch out, Nike.Author:Leanna ComminsPublish date:Apr 24, 2019Updated onApr 24, 2019In an effort to achieve complete athleisure domination, Lululemon is continuing its expansion beyond its bestselling yoga pants and sports bras . The brand, which made $3.3 billion in sales last year, announced on Wednesday its plan to develop its own footwear line, with which it would, in effect, reach its final form as a one-stop shop for all things performance wear.
"We learned a lot through the collaboration," CEO Calvin McDonald said during a meeting with analysts in New York. "We believe we have identified an opportunity that will be unique to us in the marketplace." Despite the perception that Lululemon is primarily women-focused, this is not the first time Lululemon has vowed to make menswear a priority: During its 2016 earning webcast, the company announced accelerated growth in men's — with sales increasing 20% on average each quarter — and its intentions to capitalize on that by turning its men's business into a $1 billion platform.
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