Strengths
- Quality / Durability
- The Lululemon brand is known for its high quality athletic wear, with its use of different fabrics such as nylon and lycra elastane, the clothing has the perfect amount of flexibility for athletes across many different sports.
- Reigning athleisure wear for over a decade
- Having been in business for over 25 years, Lululemon has remained within the top athleisure wear companies for the last decade, and has achieved billion dollar status. They have done exceptionally well financially, growing from $3+ billion to $6.25 billion between 2018 and 2021.
- Consumer base
- Just by wearing Lululemon, consumers have adapted a “wellness lifestyle” that is synonymous with the brand.
- There has been a major increase in the interest of pilates and yoga practice for mental and physical health, and Lululemon provides select products for these activities.
- There has been an influx of Gen Z – Millennial influencers who are promoting the brand.
Weaknesses
- Leadership / Offensive Remarks
- Founder and former CEO, Chip Wilson, has been known for saying offensive remarks to various communities. From fatphobia, to racism, and stating that the Lululemon brand should only be exclusive to a certain type of customer, Wilson was harshly criticized and eventually stepped down as CEO in 2015.
- Price point
- Lululemon is not known to be an affordable brand, with its cheapest clothing option being $48 for a workout t-shirt to its most expensive item being $398 for a puffer coat.
- Limited Product Range
- While Lululemon is known for activewear, its product range is somewhat limited compared to competitors who offer a wider range of sports and lifestyle products.
Opportunities
- New Market
- Lululemon can be introduced to a new market of high school and college basketball players.
- Engage with Basketball Fans
- Lululemon has the opportunity to promote their brand to active basketball fans who will want to purchase the product if their favorite players are endorsing it.
- Community Involvement
- Lululemon can reestablish their involvement within local communities, offering basketball training / coachings at nonprofit organizations that serve young girls and women.
Threats
- Other athletic brands
- Athleisure and lifestyle brands like Aerie, Alo, Fabletics, Gymshark sell similar products and have a similar aesthetic to Lululemon that consumers may prefer.
- Duplicates
- On Amazon and other third party sites, many companies make duplicate options of athleisure apparel for a cheaper price than Lululemon’s regular pricing.