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Promotion Strategy for Lululemon - Research Paper Example
Pages 9 (2259 words)
Promotion Strategy for Lululemon Lululemon Athletica Inc. is a Vancouver-based athletic wear manufacturer and retailer. It was founded in 1998 in Vancouver and opened a store in Oregon five years later (Lacy, 2010). The company is now 54 years old and has an estimated worth of $1.25 billion and the company that started out as a yoga-inspired company is presently a retail phenomenon (Nelson, 2011)…
Over the years the segment of women’s athletic wear has been majorly neglected. Just like any other form of clothing women sports-wear is very different from men’s. The Lululemon logo depicts the consumer’s health consciousness and their affinity to an elite club of enlightened people who wear similar clothing. According to Nelson (2011) Lululemon’s real genius relies on their Blue-Ocean strategy, which means to create demand in markets where competition is low instead of fighting for a share in a competitive market. So Lululemon emerged as a retailer that targets this niche of women’s athletic wear, and over the years has managed to grab a notable share in the 15 billion USD market for women’s fitness clothing (Helliker, 2010). Lululemon is the first clothing retailer to have adopted the Salon Business Model—which implies that like-minded body and fashion conscious women get together (Nelson, 2011). The main purpose of such a model is to bring together like-minded people who would work together for mutual benefit that would transcend the benefit from the economic transaction. Lululemon started off with niche marketing and was not intended to be mass marketed. ...