The athletic apparel retailer says many guys still don't know 'Lululemon can be a brand for them.'
Lululemon, known for its sports bras and yoga pants for women, still has some work to do to win men over.
At the end of last year, only about 21% of Lululemon's business was coming from men's, with 70% stemming from women's. Lululemon recently signed a deal with former Eagles quarterback Nick Foles to become its first men's ambassador, as it makes strides to raise awareness among male consumers. Chief Product Officer Sun Choe told analysts men have reacted exceptionally well to Lululemon's"commuter" products — items like jogger pants that are designed to be worn around town to run errands, but also can be dressed up in an office setting. And so she said there will be a lot more of that on shelves this year and next, while Lululemon is also"taking cues from streetwear trends happening out there" as it designs new clothing.
Nike, bringing in $36.4 billion in sales in 2018, holds 18.3 percent of the overall U.S. sportswear market, which includes apparel and footwear, according to data compiled by Euromonitor. Adidas is second with 6 percent, Under Armour with 4.1 percent, Skechers with 2.6 percent and Lululemon with 1.9 percent as of the end of 2018, according to the firm.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kraft Heinz hires global brand expert Patricio as CEOKraft Heinz Co named Miguel Patricio as its next chief executive on Monday, hopi...
Read more »
Blackstone CEO Schwarzman: Markets 'had a good run' this year but 'rate of increase' may slowThe S&P 500's roughly 16% rise in 2019 is 'not nothing,' the billionaire co-founder of Blackstone Group says.
Read more »
Kraft Heinz's CEO is the latest victim Big Food’s exodus of leadersKraft Heinz's CEO, Bernardo Hees, is the the latest CEO to announce his exit from a food company, as the industry goes through unprecedented turnover and challenges.
Read more »
Jeff Bezos' 'two pizza rule' can help you hold more productive meetingsJeff Bezos has a 'two pizza rule' that helps him to banish unnecessary gatherings from his schedule. via CNBCMakeIt
Read more »
United CEO has 'no sense' of when Boeing's 737 Max jet will fly againUnited has grounded its 14 Boeing 737 Max jets through early July, along with other carriers like Southwest and American.
Read more »
Domino's CEO: 'Some random third party' won't deliver our pizzaAs competition with third-party delivery services heats up, Domino's CEO Ritch Allison is fighting back against the idea that the pizza chain should outsource its delivery.
Read more »
Sears sues ex-CEO Lampert, Treasury's Mnuchin, others for 'thefts' from bankrupt retailerSears lodged a lawsuit against its former CEO, Eddie Lampert, Treasury's Mnuchin, and others for allegedly stealing billions from the retailer.
Read more »
Elon Musk claims Tesla will have 1 million robotaxis driving next year — that's optimisticThe Tesla CEO warned investors, 'Sometimes I am not on time, but I get it done.'
Read more »
What the future holds for Taco Bell after ex-CEO Brian Niccol defected to ChipotleWith more than 6,500 locations across the country, Taco Bell is one of the top fast-food chains in the U.S. But turnover in top management could mean trouble for the company in the years ahead.
Read more »
Nielsen's CEO says asking for immigration status on the 2020 census will hurt the economyDavid Kenny says businesses rely on the census to make decisions regarding consumer behavior, and asking for citizenship will result in flawed data
Read more »