Lulemon Brand Analysis.pdf - BRAND ANALYSIS REPORT Lululemon Athletica Inc I EXECUTIVE SUMMARY The brand Lululemon is a well-known lifestyle athleisure

Lulemon Brand Analysis.pdf - BRAND ANALYSIS REPORT...

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BRAND ANALYSIS REPORT
Lululemon Athletica Inc. 1 I. EXECUTIVE SUMMARY The brand Lululemon is a well-known lifestyle athleisure brand that has a niche following of its own and has primarily targeted women as its consumer base. Its brand strategy has essentially been along the lines of it standing as a premium brand offering innovative products while its marketing has essentially been very grassroots, with a heavy emphasis on word of mouth. Even though its manufacturing and supply chain has fallacies, the brand has managed to sustain its position as a leader in its niche segment of the broader athletic apparel market. The sheer impact of the see-through yoga pants scandal in 2013 greatly disrupted the positive sentiments of the brand and dissuaded many of its loyal customers. While public relation campaigns have done the rounds to tackle the backlash, the brand is slowly losing its popularity in the North American market, but is making up for it by showing great growth exponentially. This has shown the heavy reliance on the company’s brand image for its success. While strong revenue growth in recent years has shown that brand image is not at rock bottom by any means, the fragility of this brand loyalty is something the brand should be wary of in its future moves. Its recent campaign inherently has yoga as the epicenter of all the activities one does and connects the need for mental and physical health so as to perform other activities. The brand is also challenging the perceived notion of masculinity through its rolled-out campaign that targets male audience. With the growing emergence men taking to conscious decisions regarding lifestyle and health, Lululemon has rightfully tapped into this market and is cultivating a name for itself. The brand would greatly benefit by building a sub-brand that tailors products in a men centric fashion, thus backing it with the brand name yet bringing it forward as a solution to men’s athleisure needs. Lululemon will be able to further its tapping into the male athletic wear market, while segmenting itself in a way that does not hinder Lululemon’s brand from focusing on what the main brand does well. In essence, this will help create a net increase in brand value and market share and is the recommended strategy for Lululemon to pursue further growth and address the need to strengthen its brand image. II. INTRODUCTION & PROBLEM STATEMENT In today’s competitive world where products and services are different in only the slightest of ways, marketing has now become a strategy. As argued by Professor Niraj Dawar of Harvard University “if you prefer not to be compared to other brands, then you’re better off marketing, distributing…your products in ways that avoid familiar cues to customers" 1 . No company can reach their full potential without proper brand perception.

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