On May 5th, The Paper reporter learned from the website of Credit China that Lulu Lemon Trading (Shanghai) Co., Ltd., an affiliated company of Lulu Lemon, was fined 8 10 by Beijing Xicheng District Market Supervision Administration for violating Article 50 of the Product Quality Law, and its illegal income was confiscated more than 23,000 yuan.
Lulu Lemmon Trading (Shanghai) Co., Ltd. made the above decision on March 8, 2022, and the punishment official document showed that after verification, Lulu Lemmon Trading (Shanghai) Co., Ltd. used more than some products (***59 pieces) for its subordinate enterprises in Beijing from 1 year1October. By the end of 202 1,1,* * sales of 5 1 piece, the total sales amount was ***67205.34 yuan (some products were sold at promotional prices). The defendant could not get back the products that had been sold. The defendant made a profit of 234,365,438 yuan +0.05 yuan, amounting to * * * 865,438 yuan +0.420 yuan.
The Paper reporter learned from Tianyancha App that as early as August 20 19, Lulu Meng Le Trading (Shanghai) Co., Ltd. was punished by Shanghai Jing 'an District Market Supervision Bureau for "passing off unqualified products as qualified products", and its illegal income was confiscated more than 29,603 yuan, and it was fined 8190,000 yuan.
Lululemon, founded in 1998, is called "the originator of yoga pants" and has been called "Hermes in yoga pants" because of its price of 10,000 yuan. According to the reporter's incomplete statistics, in the official flagship store of Lulu Meng Le Tmall Mall, the approximate market price of 3 18 women's tight-fitting sweatpants is 824 yuan, of which the market price exceeds 1000 yuan, accounting for about 16%, and the market price of yoga pants above 850 yuan accounts for about 60%.
With the support of high customer unit price, Lululemon has achieved explosive growth in recent years, and its total market value has risen from $654.38+06 billion in the initial stage of sale to about $44.8 billion now. Product categories have also expanded from the initial yoga pants to suspenders, sports jackets, sportswear, parkas, down jackets and other clothing, as well as sports wallets, satchels, rubber gloves, hair bands, fisherman's hats and other accessories. Since 2022, Lulu Meng Le has announced the first series of shoes and badminton clothes. The financial report shows that in fiscal year 20021,the total sales of Lululemon increased by 42% to $6.3 billion compared with fiscal year 2020, increased by 57% compared with fiscal year 202019, and the net profit increased by 65.5% to $975 million compared with fiscal year 2020.
Although Lulu Lemmon has been in China for a short time, she has made rapid progress. 20 15, 1 1, Lululemon announced to set foot in the China sales market and set up an official flagship store in Tmall Mall; At the end of 20 16, Lulu Lemmon set up the first offline store in Sanlitun. By the end of fiscal year 20021,Lululemon had 7 1 stores in Chinese mainland, including about 3/kloc-0 stores in Jingmian.
Previously, Lululemon told reporters that the China sales market is the main promotion module for Lululemon to expand its offshore business. In the future, the project investment in China will be maintained, and the basic business processes will be compressed. It is estimated that by fiscal year 2026, China will become the second largest market of Lululemon in the world, with 220 stores.