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Lululemon Athletica Inc Add to portfolio

COMP:LULU, Apr 25, 02:36 UTC

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Lululemon CEO: 'We have very low brand awareness with men,' but that business will double by 2023

LULU

Lululemon still has some work to do to win men over with its jogger pants and sweat-proof shirts. Lululemon wants to double its men's sales by 2023, meaning revenues in that category will eclipse $1 billion annually. Lululemon LULU , known for its sports bras and yoga pants for women, still has some work to do to win men over.

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Lululemon Will Enter The Shoe Game: Here's Why It's Important

LULU

Lululemon Will Enter The Shoe Game: Here's Why It's Important. Lululemon Athletica inc. (NASDAQ: LULU) said Wednesday it's finally making its own footwear line. What Happened. After previously partnering with sneaker brand APL, and presumably seeing how many pairs it was able to sell, Lululemon CEO Calvin McDonald said he learned a lot through the collaboration and is ready to start selling branded footwear. “We believe we have identified an opportunity that will be unique to us in the marketplace.”. How the company will differentiate its footwear line remains to be seen, but the brand has a cult-like following and if it can come up with another hit product, the payoff could make the decision look very adept.

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Lululemon is going to start making shoes, rivaling Nike

LULU

Lululemon says it's had success with its collaboration with Los Angeles-based sneaker maker Athletic Propulsion Labs. The retailer says it's planning to get into the footwear business with its own products. Lululemon LULU is about to step into the shoe business in a bigger way.

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Lululemon Athletica Inc (COMP:LULU) social chatter is higher than usual

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Lululemon to take on Nike, Adidas as it branches out into shoes https://t.co/d8SL9UScTJ https://t.co/vaiyMJaLok
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Lululemon sneakers will take on Nike and Adidas

LULU

During the company's analyst day on Wednesday, CEO Calvin McDonald announced that the brand plans to enter the footwear market in 2019 and is currently testing new products. It previously teamed up with sneaker label APL (Athletic Propulsion Labs) to create a mix of men's and women's sneakers, which is currently offered online and in select stores. Lululemon has been best known for women's yoga pants and workout clothing, but it has increasingly diversified into new categories as competition heats up and it looks to gain market share from industry leaders Nike, Adidas, and Under Armour. Lululemon said Wednesday that it expects to more than double the size of its men's wear revenues by 2023. And it seems to be paying off.

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Lululemon plans to double revenue from men's line, digital sales by 2023

LULU

Lululemon Athletica's logo is seen on the outside of their new flagship store on Robson Street during it's grand opening in downtown Vancouver, B.C., on Thursday August 21, 2014. Lululemon says growing its men's line will be part of its ongoing product innovation that includes expanding its core women's business and adding new categories, like selfcare. The company says a loyalty membership program, which is currently being piloted with plans to roll out it nationally, will help double the company's digital revenue. The company unveiled its five-year growth plan ahead of its analyst day in New York this morning where executives will elaborate on the company's plans.

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Lululemon targets revenue growth in low teens over next 5 years, helped by growing men's, online sales

LULU

Lululemon says it plans to double its men's and online sales over next five years, targeting annual revenue growth in the low teens during that timeframe. The retailer, meantime, plans to quadruple international revenues by 2023. Lululemon LULU on Wednesday released a fresh, five-year growth plan, sending its shares up about 1% in premarket trading.

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Lululemon plans to double its men's and digital business over the next five years

LULU

Lululemon Athletica Inc. laid out its five-year plan on Wednesday, which will include doubling the men's and digital business while quadrupling its international sales. Men's business was a standout in the fourth quarter. The company aims to grow total revenue in the low teens and annual square footage growth in the low double-digits. Lululemon also wants to build on the 4,000 events it hosted in 2018, with a 25,000-square-foot store coming to the Lincoln Park section of Chicago in July.

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Lululemon Launches Plan to Focus on Men's, Digital & International Sales Growth

LULU

shares edged higher Wednesday after the athletic wear group unveiled a new group strategy that it says will boost digital revenues and quadruple its international sales over the next five years. The group's 'Power of Three' strategy will also focus on increasing sales of men's clothing, which is hopes will more than double by 2023, alongside the continued expansion of its women's line and associated accessories. Lululemon also said it sees overall group revenues rising by a "low teen" percentage over the next five years, with modest profit margin expansion and a capital expenditure target of between 6% and 8% of sales.

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Lululemon targets revenue growth in low teens over next 5 years, helped by growing men's, online sales

LULU

Lululemon says it plans to double its men's and online sales over next five years, targeting annual revenue growth in the low teens during that timeframe. The retailer, meantime, plans to quadruple international revenues by 2023. Lululemon LULU on Wednesday released a fresh, five-year growth plan, sending its shares up about 1% in premarket trading.

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