Recently, the CEO of Lululemon (LULU) Calvin McDonald shared with analysts that the company is planning to launch its own footwear line as a part of its five-year growth plan, upon successful collaboration with sneaker company Athletic Propulsion Labs, Los Angeles.
The brand well known for its Apparel offering apparently had launched APL sneakers in August 2017 to test the market. Calvin stated “We’ve tested and learned a lot on footwear,” as per reports.
The entry of Lululemon in the footwear range holds a good chance to threaten to a fair piece of the footwear business from the likes of sportswear giants i.e. Nike, Adidas, and Under Armour who are investing huge on their footwear businesses.
NIKE, Inc. (NIKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.
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