Shares of Lulu’s Fashion Lounge tumbled on their opening day, but ceo David McCreight said the digital fashion company is playing the long game.
Wall Street investors will come around and start to understand the company’s true value as it executes on its plans, McCreight said.
“Lulu’s is not trying to be the bleeding edge of fashion,” McCreight said. “We think our styling is going to be pretty enduring. Part of our value equation is very approachable [average unit retail prices] combined with really good quality product.” “We have suffered, to date, delays in the weeks, not to the multiple months,” he said, noting the company sources goods in Asia, but was not impacted by factory shutdowns in Vietnam. Lulu’s also does not use a lot of cotton, which has seen big price increases.
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