Lululemon
Transcript: 0 drop in sales or revenue in the past 4 years Approximate 3 million dollars each year, except 2013-2014 Gross income has steadily increased, less increase from 2013-2014 Technology trend of "smart" products “Creating components for people to live longer, healthier, fun lives.” Opportunities: Promotes healthy living in all aspects Weekly complimentary yoga sessions in stores Extremely loyal customer base Mission Statement: Largest Weaknesses & Threat: Tracks physical activity Links to smart phones Tracks fitness progression during exercise or throughout day Waterproof watch for all weather conditions health data that will record active calories being burned, walking and running distance, cycling distance, lap distance for swimmers and calculated steps walked just to name a few, etc. Price point: $99 dollars Reasons: generate $1.9 in revenue with only 20,000 sold, appeal to broader customer base, position themselves as an all inclusive health company Background: LuluWatch: Proposal 3 Owner: Chip Wilson Founded in 1998 Name stems from "exclusive" fabric called Luon Logo stems from failed name, "Athletically Hip" First real store opened in November of 2000 Recall of see-through yoga pants after claiming "quality" is highest priority Many companies offering guarantee of non-see through products with cheaper price points & all sizes Statement by Chip Wilson blaming big women for the sheerness of the pant "They don't work for some women's bodies...it's really about the rubbing through the thighs, how much pressure is there over a period of time, how much they use it." How to fix it: Proposal 1 The complete manifesto is often stamped on the shopping bags at the retail stores, made up of multiple quotes splattered across the bags. Quotes include: “Do one thing a day that scares you.” “Stress is related to 99% of all illness.” “Your outlook on life is a direct reflection of how much you like yourself.” “This is not your practice life. This is all there is.” 5K: Proposal 2 Lululemon Full Circle: Key Strengths Held in downtown and urban areas All day event Features: run family friendly yoga activities healthy food choices speakers highlighting healthy living Reasons: Promote healthier living, enter running market (not only yoga), appeal to loyal customers, gain reputation in corporate social responsibility, gain trust of customers as being a caring company Financial Information: Introduction of new plus size line, offering sizes 14-20 Test-out period of online only, then store offerings if successful Reasons: Shows company cares about people of all shapes and sizes, is apologetic, enters a market of 67% of women who were previously looked over Cost of goods: Manifesto: Biggest Issue: controversy after see through pants, especially with high price point Biggest Threats: Other athletic wear markets with more offerings, less specific market, and lower price points Biggest Challenges: regaining trust, regaining positive image, entering a bigger market Proposals aim to tackle all issues & make Lululemon an all encompassing positive company
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