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Lululemon's new two-storey concept, its largest store to date, is still in the traditional retail business. The lower floor is dedicated to the tops, pants and bras for women. Reflecting Lululemon's sustained efforts to attract male buyers, the site offers a large area of men's clothing on the second floor with hats, racing shirts and black pepper sandalwood deodorant for $ 12. Gym classes have also been designed to appeal to men. They include hip-hop yoga, bodybuilding, and high-intensity workouts.
"We are very pleased with the men's demand," said Celeste Burgoyne, Executive Vice President, Americas.
All of Lululemon's previous retail experiences have not been successful. The Vancouver-based company recently closed its men's stores in New York and Toronto even as it was trying to more than double the revenues of this segment by 2023. The company plans to double the size of its traditional sites to include more men's clothing. , according to Burgoyne.
Even if the company is expanding abroad, including China, it needs to find ways to keep national business buzzing. North America is a more mature market where approximately 355 Lululemon stores are located, accounting for 78% of the total. Investors have so far endorsed the strategy of CEO Calvin McDonald's, sending stocks up 44% over the past 12 months.
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