lululemon is leaning toward men to bolster growth
Lululemon athleinc. achieved strong growth for two consecutive quarters and is pushing ahead with expansion plans, including focusing on men\'s clothing, a move that could inject vitality into the sluggish sports market.
In targeting men, the company has entered a field dominated by companies such as Nike and Under Armour, which is expected to receive a billion-dollar business by 2020.
\"Men are still one of our best --
Chief executive Laurent Porter Devon said in a post
Earnings call with analysts on Thursday.
Famous for yoga
Inspired clothing, lulululemon\'s tilt to men can be a good strategy, especially when competitors struggle in the market for a lack of dynamic sports gear --
Casual clothing designed for sports and daily wear.
\"The successful rotation has been developed by a women\'s brand to the point where men and women are now called for, lululemmon\'s stark contrast, the extent of Under Armour, only limited success attracts women, neil Sanders, an analyst at global data Retail, said.
\"It\'s a good sign for the future, because we believe lululullemon has more runways with male shoppers.
\"The company is showing off its popular-ball crushing (ABC)
The stuff in the store stinks.
The new ABC swimming gear also sells well.
Lululemon\'s share price rose 7% to $61.
On Friday, on the New York Stock Exchange, the day after the company raised full money,
Strong annual revenue forecast for women\'s demand.
The men\'s wear sector has also gained traction, with sales of trousers and shorts up 23%. Vancouver-
London-based Lululemon didn\'t bring sales to the entire male business, but analysts at JPMorgan Chase said it accounted for about 13% to 14% of total sales.
Lululemon will launch its first marketing strategy specifically for men in September as part of its launch of the global \"this is yoga\" campaign.
Lulullemon plans to affect the sales of retailers such as dikes sporting goods after men hit the Athleta brands of Nike, Armour and Gap Inc.
\"We believe that the weakness in apparel sales in Nike and Armour North America has created a share growth opportunity for lulullemmon,\" Rafe Jadrosich, an analyst at Bank of America Merrill Lynch, said earlier this month.
Lululemon\'s than Nike and Under Armour-
Evercore analyst Omar Saad said that the brand has sold about 30 million vehicles in North America in the past 12 months, while Under Armour and Nike sold 100 million vehicles and 0. 35 billion vehicles respectively.
\"Nike and Under Armour lack innovation, excessive
\"Distribution in moderate channels and a lot of promotion,\" Jadrosich said . \".