By Jamie Barrie
L ululemon Athletica is back on track. After two years of less than Zen moments Lululemon Athleti- ca CEO, Laurent Potdevin is positive about a strong rebound in sales and optimistic that Lululemon can keep the ball rolling. The company has benefited from the trendy move towards athletic wear as everyday apparel. However, the very popular trend also seen fashion leaders like
Victoria’s Secret, the Gap and H&M follow suit.
Potdevin has set some lofty goals for Lululemon Athletica. One is to double sales to $4 billion by 2020. The CEO also wants to see a strong effort made to promote innovation in products like swimwear and their men’s clothing. Like most retailers improving online performance is at the top of the list as is opening more stores. Lululemon has nearly 400 stores globally and wants to see more open to help push outside the U.S. sales up 25 percent by 2020. The company is jumping back into the risk game after a 2013 faux-paux with nearly see through yoga pants cost then CEO, Christine Day her job. Add to that mess a comment by founder Chip Wilson some women’s bodies were not made for Lululemon’s clothing did not help matters, causing a huge social media blow up and his resignation as chairman soon after. Potdevin wasted no time since taking control in 2014 improving Lulu’s website and tracking inventory down to the individual store level. The company also revamped its store wall of yoga pants organizing them by how they feel such as relaxed, naked, hugged, held-in and tight. Potdevin, wearing a Lululemon white shirt and pants, recently said “we are in a very unique position at the intersection of function and fashion. When we look at the brand, the people, the product, the global opportunity, the sky is the limit.” When asked what excites him about the innovative new strategy he quickly exclaimed “The pant wall was the first big move. This is the anchor of our business. It’s doing incredibly well.” Potdevin also noted the outerwear section is very promising.
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DECEMBER 2016 • SPOTLIGHT ON BUSINESS
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