Lululemon is going to venture into the footwear industry. It is going to mark a new product category. The company currently makes leggings and sports bras. It focuses on activewear. This will indeed deepen rivalries with Nike and Adidas.
The shoes will be available for sale from March 22. The select markets of North America and Mainland China. It will also be available in the UK.
The launch in the footwear niche is very new for the company. It has sold only very few before. The leverage of growth for the growth will be high. It has to catch large competitors.
The sneaker industry recorded high sales during the pandemic. With people moving toward a healthy lifestyle, comfortable shoes rose in demand. The heated category features some of the biggest competitions. Nike and brands like Allbirds make running shoes. Lulu is going to face severe competition in the field.
The company plans to introduce a men’s footwear collection next year. It will expand its women’s assortment with limited-edition shoes. It is also going to feature seasonal sneakers.
Lululemon has also announced the release of two types of women’s cross-training sneakers. It will be available this summer. The pricing for the same will be at $138 and $148. There will also be a slide-on shoe. It will be for post-workout usage. Lululemon is set the price at $58. Also, then another training sneaker with a supportive midsole at $128.
Clavin McDonald, who is the Chief Executive, calls the launch a long-awaited goal. He informs the gap in the shoe corporation. Lululemon may start selling its footwear based on its success with APL.
He also adds, “It represents an exciting moment for our brand,” he said. “We are entering the footwear category the same way we built our apparel business — with products designed to solve unmet needs, made for women first.”
The US has seen the growth of athletic footwear. It grew 17% for men and 24% for women alone in 2020. This data is from the market research firm NPD group.