Lululemon is expanding its leisurewear empire into the realm of self-care products such as deodorant, moisturizer, and dry shampoo.
Lulu’s sales are already on a roll: Digital sales soared 35% last quarter, beating expectations. But the company thinks it can stretch its lucky leggings even further — and so Lulu’s expanding into the lucrative cosmetics market.
The yoga lifestyle only starts with the yoga pants
Lululemon sold its first pair of yoga pants in 1998. Since then, the company has expanded beyond activewear to lifestyle apparel, yoga accessories, footwear — and now self-care products.
Along the way, Lululemon proved leggings are a lucrative business: The company’s market value is around $24B, and shares in the business are up 50% so far this year.
No big brand can afford not to be a lifestyle brand
Lululemon became leaders in the leisurewear biz by using their big, bougie brand to expand into untapped markets — and now, Lulu smells a sandalwood-scented opportunity.
But if you’re on your way home from a rousing yoga sesh and looking to “reset your flushed face back to its pre-workout colour,” don’t hold your breath: Most of Lulu’s products — like the “Sweat Reset” face moisturizer, which will run you $48 for a 1.6-oz. tube — are already out of stock.
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