Lululemon Is the Latest Company Attempting to Court the Sneakerheads

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.

lululemon Let’s see !

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.

Stocks making the biggest moves after hours: Lululemon, RH and moreSee which stocks are posting big moves after the bell on June 12.
Source: CNBC - 🏆 12. / 72 Read more »

Lululemon beats Q1 sales, earnings expectationsShares of Lululemon Athletica Inc. rose 3% in the extended session Wednesday after the apparel retailer beat Wall Street's first-quarter sales and profit...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves premarket: CrowdStrike, Lululemon, RH, Alibaba & moreThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »