Casey Brogan
Taylor Johnson
Carlee Myers
Elizabeth Stapleton
Background
Athletic apparel is a rapidly growing industry in the United States. The demand for yoga apparel is increasing and retailers in the U.S. are profiting. Workout apparel is worn everywhere, it is no longer limited to simply exercising. Top athletic apparel retailers in the U.S. include, Under Armour,
Dicks Sporting goods, Bon-Ton stores, Kohls Corporation, Quiksilver and Christian Dior. Analysts at Barclays estimate “the U.S. athletic apparel market will increase by nearly 50% to more than
$100 billion at retail by 2020” (Germano).
Chip Wilson, a Canadian born businessman and philanthropist, founded Lululemon Athletica Inc. in
1998. Marketed as an "upscale athletic apparel company," Lululemon was built under a strong foundation of surf, skate and snowboard clothing knowledge and experience (Beninger). Wilson previously owned Westbeach Snowboard Ltd and became intrigued with yoga and yoga clothing.
He opened a design studio in 1998 to sell yoga apparel and host yoga sessions. Wilson's venture took off when yoga was beginning to grow in the mainstream international market; when Wilson believes that, "Yoga was growing like a hockey stick upramp" (Beninger). This perfect timing marked Lululemon as an industry leader in the yoga apparel industry.
The first Lululemon apparel store opened in 2000 in Kitsilano, a neighborhood of Vancouver,
Canada. By February of 2013, Lululemon had over 200 stores and 6,000 employees - a fast stretch from the initial one location in 2000. The company also sells merchandise online and in other retail stores across other continents including Europe, Asia and Australia.
Lululemon focuses its mission on, "Creating components for people to live longer, healthier, fun lives" (Beninger). The company aims to provide high-quality products for its consumers while maintaining a business with integrity. Its products are made with the intention of a