Thanks to the closure of offices and gyms, sportswear brands such as Lululemon have a unique chance.
Home sports and fitness are becoming more popular due to the closing of gyms worldwide, which means that customers are increasingly buying sports shirts, pants, and other comfortable clothing for sporting purposes. Also, even when working from home or bored during the quarantine, people prefer more comfortable, unbridled clothing.
Lululemon, one of the largest sportswear and accessories retailers, has jumped into this trend. The company reported that in the second quarter of 2020, sales growth was 2%. Online sales showed an impressive 157% growth.
In his conversation with investors, Lululemon CEO Calvin McDonald said that the company intends to explore "changing trends" in fashion and fitness and go beyond clothing to sports. The company plans to test the addition of new categories to the brand range, such as pants, and the brand plans to expand the size range to 20 sizes.
Also, in the development of marketing campaigns, more attention will be focused not only on sports activities but rather on the general lifestyle. Responding to changes in customer behavior, Lululemon will position as a brand of an active and healthy lifestyle that includes training and work from home, rest, and other activities.
An essential factor that strengthened Lululemon's position as a brand for home sports was Mirror startup's acquisition. In June 2020, the company signed a $500 million deal, expanding Lululemon's business by selling unique interactive mirrors for home workouts. By the end of the year, Mirror mirrors will be available in 15 Lululemon stores, and by 2021 the number of points of sale will be even more significant.