Lululemon Athletica is a yoga retail store; it is a textile apparel clothing company founded in 1998. Lululemon is located in the United States as well as Vancouver, British Columbia, Canada. Lululemon opened their very first store in November of 2000, in the beach area of Vancouver BC called Kitsilano. Originally, Lululemon idea behind the store was for it to be a community where people could learn and discuss about healthy leaving through and yoga and their diet. However, it was impossible to help every customer that way since the store was very busy. Instead, Lululemon shifted their focus on educating their staff so well that they would able to positively influence the customers, their family and people around them in their community. In the beginning, their goal was only to have one store, but in the long run that changed and now they have multiple locations all over the world. The name Lululemon came from a survey they conducted. Lululemon mission statement is to create components for people to live longer, healthier. This company was created especially for women. Like every other business that exist, Lululemon Athletica has its ups and down. Lululemon is one of the major retail chains and clothing manufactures dedicated to yoga and fitness apparel. All of the Lululemon locations have strong ties to their local communities. They host in-store events from self-defense, goal-setting workshops to complimentary yoga classes which are led by their community ambassadors. Lululemon chose to value quality more than quantity; Lululemon also value building strong relationship with community and their customers. Lululemon’s primary competitors are small businesses that conduct yoga wear shops and retail shops located in... ... middle of paper ... ... follow: • Consumer spending may decrease due recession • Competition • Lululemon market size is small • Their product are very expensive Based on look, their product are not hard to imitate because there are numerous company that sell fitness wear that look alike. Quality wise, I believe that it would be hard to imitate since the company itself produces their fabrics. Even though their products prices are high, they still make a large profit due to the fact that they attract high income buyers. Also, due to the fact that they are they operate small stores with not many employees. Works Cited http://www.mbaskool.com/brandguide/lifestyle-and-retail/4646-lululemon-athletica.html http://www.wikinvest.com/stock/Lululemon_(LULU) https://zenportfolios.ca/elmahuang/project_showcase/my-first-project-showcase/ http://www.sfu.ca/~sheppard/478/syn/1137/G_1_1137.pdf
Wilson has started many retail companies, foundations and programs. His most known company is Lululemon Athletica, often referred to as Lululemon. Started in 1998, in 16 years the company has become the leading brand in yoga apparel. The business started because female participation in sports increased in those years. The first store was in Kitsilano. It is a small town in Vancouver where Wilson was born and brought up. Originally, Lululemon sold all women sports wear. After the some success, the company launched a subsidiary in 2001 called Fashion Active Lab. This company specialized in yoga clothing. The success of yoga clothing, created a new opportunity for Lululemon. In 2009, they started a new subsidiary called Ivivva Athletica. This company’s target market was girls ages 6 to 12. On July 27, 2007, Lululemon hit the NASDAQ market for public trading under the symbol LULU. On December 10, 2013 Wilson sa...
Since 1998, Lululemon has transformed the way people dress to workout. Through innovative products and technical athletic fabrics, a brand was created to provide clothing for workouts such as yoga, running and cycling. Lululemon opened its first store in Vancouver in 2000 with the plan to have the store be a community hub for people to learn and discuss their physical fitness and overall health goals. As Lululemon was more than a store to provide products for consumers, their goal was to influence every person who walked into the store. A basic criterion for investment is Lululemon’s mission to create components for people to live longer, healthier, fun lives. All Lululemon locations maintain strong relationships with local communities and host in-store events such as complimentary yoga classes and goal-setting workshops.
While looking at many different reviews people posted online, customers of lululemon athletica seem to be very pleased with the wear and tear of their products. Many different sources say that lululemon athletica’s clothing lasts for an extremely long time therefore people feel that their getting their money’s worth. lululemon athletica is a trend in itself because many consumers want to show off that they work out and wear an expensive clothing line while doing so and love flaunt
The most recognized brands amongst US males in the sports and fitness clothing market are Nike, Adidas, Reebok, and Puma (Statista, 2014). However, there is a large amount of opportunity to gain market share as only Nike hold a high percentage favoritism from male shoppers (Statista, 2012). Multiple brands have a stronger focus on women’s clothing such as: Fabletics, Athleta, and Lululemon. Lululemon has a similar business model however the brand has a stronger connection with women and yoga.
I would suggest that they incorporate more diversity in their ads and campaigns to reach different ethnicities if they want to continue to expand. Also, in stores, particularly the Willow Grove, PA location, is very large and spacious. Upon entering the store it is primarily women’s apparel and accessories, as well as men’s. Maybe the company can incorporate more of its products in this location, to provide consumers with more of a product assortment.
Lululemon Athletica, Inc. (Lululemon) is renowned for its technical, high-quality yoga-inspired apparel for women. However, the company is growing beyond this niche market and is therefore altering its competitive strategy. Lululemon utilizes a broad differentiation strategy because its target market is broad and its product line is varied, it stresses product innovation, and its community-based marketing and retail experience sustain its differentiation from competitors.
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.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Lululemon Athletic Inc. (Lululemon) is a retail company that specializes in athletic yoga-inspired apparel for active men and women. This company is headquartered in Canada and was founded in 1998 by Dennis Wilson. Wilson’s passion was technical athletics, which resulted in him opening a studio to design yoga clothing in 2000 in Vancouver. To help pay his rent, Wilson held yoga classes at night when the design studio wasn’t being utilized. By 2011, Lululemon’s yoga apparel was being sold in over 130 stores located throughout Canada, the United States and Australia.
As a citizen of America you have definitely seen a store owned by Gap Inc. such as stores like Old Navy, Gap, Banana Republic, Etc. These stores represent an ionic and proud American store since 1969 which has multiplied since they opened their first store in San Francisco. This marked the first of many stores that would open and take over America. Gap became an icon as it started to multiply as larger variety stores came about. Such stores as Old Navy taking over the lower budget gap clothing to Gap as a middle budget and on to Banana Republic which serves as a high profile high budget Gap Inc. store. Gap Inc. To the eyes of Don and Doris Fisher opening the first store was more than just selling jeans; it was to serve the people and to gain integrity. They also wanted to create a lasting impression to the consumers. This has become the mission statement for Gap Inc. and has stuck with them ever since they opened their first store. Gap has broadened their products from the jeans that Doris and Don could not fit and made to the countless of apparel items and accessories that they offer.
Founded in 1996 by University of Maryland graduate Kevin Plank, Under Armour has become the leading supplier of the athletic performance apparel industry. Under Armour began with simple idea to create a t-shirt that would enhance athletic performance by regulating body temperature and removing perspiration without absorbing it. Under Armour was based out of Plank's grandmother's basement in D.C. until he moved the headquarters to, and built a manufacturing plant in, South Baltimore.
Under Armour has a mission statement that clearly states what they wish to accomplish and how they will do it. “To make all athletes better through passion, design, and the relentless pursuit of innovation”, this is a powerful statement that makes consumers and the competition aware that this organization will strive to help athletes everywhere reach their potential (Mission, 08).
Many global companies like Nike, Inc. are seen as role models both in the market place as well as in society in large. That is why they are expected to act responsibly in their dealings with humanity and the natural world. Nike benefits from the global sourcing opportunities, therefore areas such as production and logistics have been outsourced to partner companies in low-wage countries like China, Vietnam, Indonesia and Thailand. As a result the company is limited nowadays to its core competencies of Design and Marketing.
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
Founded by the Benetton family in the 1960s, Benetton is one of the largest garment retailers, with stores which bear its name located in almost all parts of the world.. It could be interesting to analyse the technical development of such an important company going through the different theories of technology.