Lululemon, a Canadian athletic wear brand with its headquarters in the US, has already figured out the North American market, and we know that it has its sights set on the South American market as well.
However, the company seems to have even bigger plans, as seen from their latest move.
That’s because Lululemon has partnered with Lazada, an e-commerce platform famous in the APAC region.
With this partnership, Lululemon has launched an e-commerce platform through Lazada, with its sights set on the APAC region.
In partnership with Lazada, Lululemon has launched its flagship store on Lazmall, which is Lazada’s e-commerce platform dedicated to brands.
Lululemon says that it plans to grow its global business to $12.5 billion by 2026, and it plans to do so by growing further in the Asia Pacific region.
Nathan Chang, the VP of Lululemon APAC’s brand marketing and community department, said that Lululemon sees Asia Pacific as its “strategic growth driver”.
Therefore, they “will continue to expand our store presence, invest in our communities and the guest experience in the coming year.”
Lululemon APAC’s VP of Growth also added that they want to “reach new audiences” with the help of this partnership with Lazada.
We already know that Lululemon has a presence in 9 countries of the Asia Pacific region, such as Australia, Hong Kong, Japan, Korea, Macau, Malaysia, New Zealand, Singapore, and Taiwan.
With this partnership, Lululemon might increase its presence in the Asia Pacific region to cover most of the countries in Southeast Asia as well.
Lululemon’s partnership with Lazada is to enter the market via an already established player and understand the market better through local players.
Lululemon wants to occupy an authentic space in the Southeast Asian markets, and they see the partnership with Lazada as the best way to do that, along with the launch of their Asia Fit product line.