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Lululemon introduction
Lululemon introduction
Lululemon introduction
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Background Lululemon Athletica Inc. was founded in 1998 by Wilson. Lululemon is an upscale athletic apparel company based around the exercise of yoga. Wilson became interested in yoga after selling his previous company Westbeach Snowboard Ltd. In 1997. Yoga did not receive heavy attention until the 1990s, which made Lululemon one of the first companies to cater to this particular service in a fast growing industry. Wilson began the company by selling apparel and offering yoga classes. Wilson opened up Lululemon’s first real store in 2000 in the town of Kitsulano in Vancouver, Canada. Wilson gained much success with Lululemon, considering that the net revenue is more than $1 billion in 2012 and Wilson’s new worth is about $2.9 billion in 2013. …show more content…
Lululemon products are manufactured in 15 different locations around the world by the end of 2013. Lululemon worked with the suppliers to advance the product lines. The suppliers and Lululemon formulated technically advanced fabrics and features. These features helped attract the company’s target customer, which is a “sophisticated and educated woman who understand the importance of active, healthy lifestyle… to achieve physical fitness and inner peace.” Even though their target is women, men and youth have taken a particular interest in the company and its products. Lululemon has a manifesto that captures the core of the company. Lululemon’s mission statement is “creating components for people to live longer, healthier, fun lives”. The company does not want to just help with having a healthier life. The company gives all types of advice starting from health advice and ranging to relationship advice. Lululemon’s core value is developing the “highest quality products, operating with integrity, leading a healthy balanced life, and instilling in our employees a sense of self-responsibility and personal …show more content…
prides itself in the culture it provides. Since the company is yoga based Wilson originally only had yoga practitioners working for the company, but that did not work for the overall company. Wilson then changed his employee strategy to hiring runners who also liked yoga. The employees who only liked yoga were too slow but the runners who liked yoga were the type of people imagined to represent the company. The company’s biggest strength is their culture. They provide a “supportive, goal oriented environment” and customers respond positively to the culture. Each employee represents the company and the lifestyle the company has. Because their culture is a key component of the company, the company needs to make sure the employees are aware of what they a representing because they are not just representing a company, but they are representing a
American Eagle Outfitters (AEO) differentiates from its competitors because it’s a leading global specialty retailer offering latest trends that are high-quality and affordable. The source of competitive advantage is the quality of their clothes and their environmentally friendly fabrics. American Eagle Outfitters is a high-quality and inexpensive brand of their two competitors Aéropostal and Abercrombie and Fitch. AEO centers in every category of purchaser such as kids, tweens, teens, and adults. American Eagle Outfitters has further stores open globally and their product line is more assorted than its competitors and its name brand and logo is known world-wide.
Lululemon geographics have expanded into Asia, Africa, Europe, and have densified in North America with new openings of stores. The companies’ demographics have also expanded. Previously only focused on yogi’s, Lululemon is now focused on any one who sweats and is interested in athletic wear and the lifestyle it promotes. Lululemon also offers the same quality leggings to men and young females; one of Lululemon’s biggest market segmentation moments was when they opened their sister store Ivivva to market the same product to a younger female audience. However, they are still fixed on offering their products at a higher cost, meaning only customers who have money for discretionary products can purchase them; the high exclusiveness and quality has created a loyal fan base. The organization also continues to segment themselves as a leader in the health conscious market, promoting the better lifestyle with yoga ambassadors. With the rise of people being aware of their bodies, Lululemon fits perfectly into the new
Lululemon, a premium yoga-focused retail chain, serves two market segments. One segment consists of consumers who are characterized as “trendy urban” and the other segment consists of “wealthy” consumers. The “trendy urban” segment, in summary, is fashion oriented or active women who live in metropolitan areas. The “wealthy” market segment is affluent women who live in either urban or suburban areas. As discussed below, these two market segments are defined by differences in demographics, geography as well as behavioral and psychographic characteristics.
The American brand Abercrombie and Fitch (ANF) is a retailer selling fashionable and luxurious sportswear clothing, and accessories.
Warby Parker Marketing plan summary 1. Background: Company mission, overview The eyewear industry is controlled by a single monopoly company and prices of eyeglasses have been set abnormally high. So Warby Parker was founded in February 2010 to create a better choice.
The 2005 World Summit on Social Development identified sustainable development goals, such as economic development, social development and environmental protection (UN, 2005). M&S has added one more category, supply chain, which merges social and environmental goals.
They believe that the market is divided equally with each gender making up 50% of their customers. The way that they attract females is by creating fashionable colors for the merchandise produced for females. The reason for this is that they know females generally wear sporting clothes as casual wear. Under Armour have in response to that have created yoga pants that can be worn for everyday use. “Under Armour have also produced a campaign called “Power in Pink” which is for the awareness and support for victims of breast cancer” (Barret, 2007). For males they have produced more durable and skin tight fittings with a robust color scheme. The third segmentation stage is the diverse uses consumers have for their products, examples being the use of their merchandise as professional or casual wear. Under Armour have been able to market their brand by sponsoring professional athletes as well as teams which have led to a noticeable increase in sales across the board. The last form of segmentation is the climate in which the consumers will use their merchandise in. The way Under Armour manages to accommodate both climates is that their apparel is made from a material that regulates the body temperature when doing activity in either
Lululemon company offer a diverse selection of premium – price products. From the first Lululemon’s establishment, many of this company’s products were specifically intended for people taking part in yoga, now the company has broaden its products to address the needs of other activities (swimwear, golf and tennis). Some new kinds of products are introduced to the customers like socks and underwear, sweat cuffs and gloves, instructional yoga DVDs, gear bags… Lululemon now not only provide products for woman but also has broaden the customer range to men and female youth. They realized that everyone now is caring about their health. The number
Lululemon has been trying many different ways to highlight his core competencies and then distinguish them from competitors. The company's strategic sales approach is paired with local entrepreneurs and athletes who are passionate about the community and improve themselves and the surrounding community. Because the company is mainly targeting high-end markets, all Lululemon's main goal is to focus on the quality of the product rather than blindly pursuing the quantity.
Founded in Vancouver BC in 1998, the first Lululemon shared its retail space with a yoga studio. Lululemon Athletica inc. is a Canadian designer and vertical retailer of athletic apparel, which operates predominately in North America (“Lululemon Athletica Inc (LULU.O),” 2014). The Company’s garments are marketed under the brand name “Lululemon Athletica” (“Lululemon Athletica Inc (LULU.O),” 2014). Lululemon decided to go public in 2007, 7 years after opening their first store in 2000, raising $327.6 million (Urstadt, 2009).
Like most companies The Gap Incorporated usually has some type of commitment or vision that they want their company to fulfill. The owner, Don Fisher wanted his company to be unique and really help the community. The company does not have a set mission statement but they have made commitment to their stakeholders, employees and they community. One of the commitments the company made was that they will do way more than just sell clothes (Gap Inc. 2014). The Gap Inc. also ensures that everyone that works with the company or is associated with the company will be treated with the up most respect, fairness and dignity (Gap Inc. 2014).
In 1996, Under Armour,Inc. (UA) was founded by Kevin Plank as a former University of Maryland football player. Kevin Plank started his business with the idea of alteration athlete’s T-shirt. The shirt uses moisture-wicking fabrics to keep athletes cool and dry, and worked in a body to regulate temperature for enhancing athlete performance (Under Aumour, “About Under Armour” n.d.). Under Armour’s mission statement is to make all athletes better through passion, design and the relentless pursuit of innovation (Under Aumour, “Brand Mission”n.d.). Under Armour has developed different product for athletes to use in different seasons for men, women, and youth such as HeatGear that is designed to be worn in high temperatures, ColdGear, which is designed to be wore when the body circulate body heat from hotspot to the normal body temperatures, and AllSeasonGear, which is designed for wearing in changing temperatures (Under Aumour, “About Under Armour” n.d.). Under Armour develops, markets, distributes its apparels, footwear, and accessories for using in the athletics in various continents such as North America, Asia, Europe, the Middle East, and Africa. It is looking for expanding market in the future (Under Aumour, “Shop of Under Armour”n.d.). Under Armour’s headquatered is in Baltimor, MD. Moreover, it also operates in Canada, the United Kingdom, Australia and other 80 countries (Under Aumour, “Find a Retailer”n.d.). It distribute its products through retail stores and online.
The company’s approach to motivate employees has been working in a positive way. The employees are satisfied with the family style community, and the productivity has increased as well. The company’s style of treating employees as important partners has been successful in other manufacturing companies too. For example, when Honda opened its first factory in the U.S., the CEO and employees shared the same cafeteria, just like Lincoln.
C-79). The company is also offering products and apparel intended for other healthy and athletic lifestyle pastimes rather than solely for yoga. These include swimwear, which were introduce for women in fiscal 2013 and men in the spring of 2014, dance apparel through its ivivva brand, as well as expected golf and tennis products (Thompson, 2014, p. C-80). Additionally, Lululemon offers such products as gear bags, water bottles, caps, gloves, headbands, and socks. This supports the company’s core component to “broaden the lululemon product line beyond yoga, running, and general fitness (specifically swimming, golf, and tennis) and include offerings for both males and females of many ages” (Thompson, 2014, p. C-79) for its fiscal 2014 business strategy. This indicates that the senior administrators of Lululemon have been transitioning the company’s competitive strategy from having a narrow market focus just on yoga
Nike’s focus for fashion forward women is the following: lead the athleisure trend, increase advertising, and the introduce the #BetterForIt social media campaign. We need to focus on the athleisure trend by increasing our portfolio for the women target market. Athleisure is already 20% of the firm’s revenue and we need to recognize that women are leading this fashion movement. Under Armor and Lululemon are already making headways in this fashion focused market. We need to emphasize our athletic technologies, promoting lighter fabrics and better performance, while still maintaining a level of comfort and fashionability. Increasing the portfolio means nothing if women don’t know we’ve done just that. Nike will need to increase advertising specifically with this target market in mind. The #BetterForIt campaign is one important aspect of these advertising efforts. Similar campaigns should promote and help “normalize” athletic wear in everyday