Lululemon expands beyond apparel
Athleisure retailer Lululemon has ventured into a new category, launching a line of gender-neutral personal care products.
The Vancouver-based retailer unveiled on Tuesday its new line of self-care products which include moisturizer, dry shampoo, deodorant and lip balm.
The new products will be sold online and in 50 Lululemon stores. It will also be displayed at selected studio partners in North America and on Sephora’s online store.
The retailer said their partnership with Sephora extends the company’s ability to reach new guests while partnering with an authority in the personal care space.
“Over the years, we’ve heard the feedback that transitioning from sweat to life isn’t always easy,” said Sun Choe, Lululemon’s chief product officer. “Lululemon has always been in the work of creating solutions for sweaty problems and our selfcare line is an extension of that approach.”
According to the retailer, throughout the two-year research and development process, the company’s selfcare team spent time with athletes, ultimately recognising a gap in the transition point from sweat to life where sweat-related skin and hair problems exist.
The products were launched after a successful test earlier this year.
According to Lululemon, its self care products have also received the Clean at Sephora seal, which certifies that they are free of ingredients like sulfates, parabens and phthalates.
For the fifth consecutive quarter, the company has beat its forecast, posting a 16 per cent increase in comparable sales and a 20 per cent lift in net revenue to $782.3 million for the first quarter ending May 5.
The company ended the first quarter of fiscal 2019 with $576.2 million in cash and cash equivalents compared to $966.6 million at the end of the first quarter of fiscal 2018.
“Lululemon continues to see strong momentum across the entire business,” said Calvin McDonald, company CEO. “I’m inspired by our teams who are executing at high levels.”
The retailer said for the second quarter of fiscal 2019, they expect net revenue to be in the range of $825 million to $835 million based on a total comparable sales increase in the low double digits on a constant dollar basis.