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Lululemon announced that Laurent Potdevin has been appointed as new CEO
Topic Started: Jan 25 2014, 04:34 AM (134 Views)
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On Dec.9 lululemon outlet announced that Laurent Potdevin has been appointed as new CEO. The executive, who most recently served as President of TOMS Shoes, is taking charge in January 2014. In addition to this, Chip Wilson is resigning to the Chairman position. So, the recent disappointment comes in a time when investors in Lululemon were starting to have hopes of a better future as a new management team could streamline operations and leave the company′s problems in the past.
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A renewed management team is clearly positive news for lululemon sale, but investors need to consider that the company is now facing growing competitive challenges by the likes of Gap′s Athleta brand and Under Armour.

Athleta is opening new stores near existing Lululemon locations, benefiting from its traffic and undercutting Lululemon products in price by a considerable difference. In addition to this, Athleta is copying Lululemon′s marketing strategy by hooking up with yoga instructors and sponsoring all kinds of classes and similar activities to increase brand awareness. Athleta offers a wider variety of sizes than Lululemon, providing an alternative for customers who prefer a more inclusive brand and capitalizing on Wilson′s unfortunate comments.

Under Armour is also stepping up its efforts in women apparel, CEO Kevin Plank believes women apparel will generate around $1 billion in revenue for the company in 2016 and yoga could be a considerable opportunity for Under Armour in the coming years. Under Armour is clearly going after lululemon canada with its marketing campaigns, the company recently launched big campaign for its studio yoga line using the tagline "We've Got You Covered" in clear reference to Lululemon′s sheerness problem.
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