It is worth mentioning that Lululemon's "first launch" product-women's yoga clothes has also been recalled twice because of product quality problems. Lululemon, located in a big brand in China, also planned to make China the second largest market in the world, but its fake and shoddy practices were inconsistent with its words.
From a professional point of view, because the negative news of product quality problems will affect customers' confidence in Lululemon, it is impossible for customers to pay for high-priced defective products in the short term. At the same time, Lululemon, which once became the standard configuration of fashion trends in fashion and healthy daily life, is also faced with the challenge of being stumped by business expansion and increasing market competition in this field.
There are 59 pieces of this men's down vest on sale in China * * * store, and the price of each piece is 1380 yuan. At this stage, 5 1 piece has been sold. But for the products that have been sold, lululemon can't get them back. In the apology propaganda, Lululemon did not establish a way to disclose the disposal of suspicious products.
Lai Yang, an authoritative expert in the research base of Beijing International Trade Center, believes that the root cause of product quality problems of Lulu lemon lies in the differences of standards and regulations formulated by different countries for products. "Many internationally renowned brands, including first-line luxury brands, are frequently punished for product quality problems in China. When internationally renowned brands enter China, they should conduct deeper scientific research on the China specifications of the corresponding products, and purposefully check whether their product types and certain specifications meet the requirements of the China sales market to ensure the release of products that meet the testing standards of China. "
It is worth mentioning that Lululemon's main business product, women's yoga clothes, was also recalled twice because of product quality problems. 20/kloc-in March, 2003, a gray-black fitness pants of lululemon Group was recalled because it became more and more "transparent" when applied. In 20 15, Lululemon recalled 310.8 thousand women's jackets and other jacket styles with elastic ropes because of the risk of jacket ropes.
Lai Yang said: "While well-known brands are making rapid progress, they should pay more attention to the control of product quality. For newly expanded product lines that exceed their perfect industries, it is necessary to raise the threshold for OEM enterprises and product research and development. "
At present, China's sales market has become the key driving force for lululemon's performance improvement. The financial report for fiscal year 2022 shows that lululemon's annual operating income is 6.257 billion US dollars, a year-on-year increase of 425.438+0%; The net profit was USD 975 million, up 65.5% year-on-year. According to the data, the CAGR (compound annual growth rate) of Lulu Lemon in Chinese mainland has exceeded 60% for two years.
According to the store data, China is already a bigger sales market for lululemon besides the United States. By the end of 20021,Lululemon had 574 stores in 7 countries around the world, including 324 in the United States, 86 in China and 63 in Canada.
In addition, China is an important part of lululemon's global expansion plan. In April, 2022, lululemon announced the newly upgraded five-year development strategy of "PowerofThreex2". Among them, lululemon predicts that by 2026, the total number of stores in Chinese mainland will reach 220.
For professionals, lululemon's emphasis on China's sales market depends on China's expanding market capacity. According to the statistical analysis of iResearch, the market capacity of yoga fitness in China will be 38.7 billion RMB in 2020, and it is expected to exceed 50 billion RMB in 2023. Some scientific research companies predict that by 2022, the market share in the field of yoga fitness clothing in China will reach 654.38+056 billion RMB.
However, with the constant prevalence of fashion and healthy daily life, many new and old fitness sportswear brands are trying to take a slice of the yoga fitness sales market to which lululemon belongs. In addition to international fitness clothing brands Nike and Adidas, China traditional fitness clothing brands Xtep and Li Ning have gradually entered the track of fitness pants. At the same time, China's new sportswear brand MaiaActive shouted the slogan "Tailored for Asian girls", which attracted thousands of fans. In addition, new well-known brands such as Keep, Joyma, Particle mania and runaway Lori are also targeting the women's sportswear sales market symbolized by yoga classes.
For this matter, Shen Cheng feels that it is not easy for lululemon to stand out among many well-known brands again. "The rapid popularity of yoga clothing products depends on the benefits to physical and mental health. Steady development must also start with product countermeasures and marketing strategies, and more importantly, we must grasp the core overall target consumer groups and potential trading groups in the future market. "