The company, which last year had $3.3 billion in revenue, says it expects men’s business to become a $1 billion-a-year business by 2020.
Lululemon has become a retail darling in recent years by tapping into Americans’ growing love for “athleisure." By Abha Bhattarai Abha Bhattarai Reporter covering the retail industry Email Bio Follow April 24 at 4:40 PM Lululemon, the purveyor of $100 yoga pants, is setting its sights on a growing market: men.
Increasingly, that means winning over men who shop at competitors such as Nike and Under Armour. Lululemon recently introduced two styles of boxers — priced between $28 and $38 — and plans to expand its lineup of men’s running gear in the coming months. The company, which last year had $3.3 billion in revenue, says it expects men’s business to reach $1 billion a year by 2020.
“Shopping at Lululemon is quick and easy, and that is often very attractive to men,” said Neil Saunders, managing director of GlobalData Retail. “It’s not like walking into a Nike store where you’re overwhelmed by lots of different products for lots of different sports.” Nijjer said some of his friends are still skeptical of the brand, which rose to popularity for its women’s clothing, but he’s slowly starting to see more men wearing Lululemon at the Manhattan Equinox where he works out.“There’s an amazing community of folks who like Lululemon,” he said. “It sounds cliche, but we really do high-five each other when we walk by in our Lululemon. It’s beyond gender at this point.
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