Lululemon sales soar thanks to at-home fitness boom during pandemic - Business Insider

Lululemon exceeded investor expectations in the second quarter of 2020, reporting a comparable sales increase of 2% and e-commerce sales that rose a whopping 157%.

The company also reported early success from its June acquisition of Mirror, the high-tech at-home fitness startup company it bought for $500 million. As Americans trade in office wear for leggings and skip group classes in favor of living room yoga sessions, brands like Lululemon have become uniquely positioned to respond to emerging trends in both fashion and fitness.

Speaking on a call with investors, Lululemon CEO Calvin McDonald said the brand has proven "ideal for enabling the work-from-home and versatile lifestyle that has grown exponentially" during the pandemic Specifically, McDonald said Lululemon is finding success in expanding beyond performance wear by testing new categories like pants while experimenting with more lifestyle-focused marketing campaigns. Lululemon has also pushed to reach new audiences and announced on Tuesday it will offer select products at up to size 20 by the end of September, with plans for its entire inventory to be inclusive by the end of 2021.

congrats

We’re about to see a huge shift in the fitness industry as a whole- training at home is about to be more accessible than ever. What a beautiful thing

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the secret club that helps determine which healthcare startups blow up - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. bielinko
Source: BusinessInsider - 🏆 729. / 51 Read more »

PHOTOS: What the Kentucky Derby was like during the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

WHO: World must invest in public health to prepare for next pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. WHAT-WHATAN THISS!! 😱 When are they releasing the next virus? If the African government’s stop looting funds meant for the people mabe they can have the infrastructure they need to cope. But hey In this continent the governments just steal and use the easiest scape goat to cover up with the masses. Let’s just blame the white man.
Source: BusinessInsider - 🏆 729. / 51 Read more »