Lululemon, the renowned athletic apparel brand, is set to make its mark in the men's footwear realm with the introduction of its inaugural footwear line, including a casual sneaker named "cityverse." The new line also features two running shoes, marking the company's first foray into men's footwear, which aligns with its strategy to double its men's business and achieve $12.5 billion in revenue by 2026.
Scheduled for release on Feb. 13, the "cityverse" sneaker will be accompanied by the debut of the running models in March and May. While Lululemon acknowledges the significance of this expansion, Nikki Neuburger, Lululemon's Chief Brand Officer, emphasizes that the growth strategy isn't solely dependent on footwear.
As competition intensifies in the athletic apparel space, Lululemon faces a slower growth rate, posting a 19% sales increase in the last quarter, down from the previous year's 28% surge. Despite being regarded as a best-in-class retailer, some analysts anticipate a moderation in Lululemon's growth as the industry matures.
While apparel remains the core of Lululemon's business, the move into men's footwear is strategically positioned to enhance the brand's competitiveness against established players like Nike, Adidas, Hoka, and On Running. CEO Calvin McDonald highlighted the brand's relatively low awareness among men, indicating ample room for growth in this segment. Lululemon aims to distinguish itself through innovation and proprietary technologies, offering a unique approach in design across its assortment.
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