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Menswear spurs growth at Lululemon

Lululemon’s revenue leapt 21% to $747.7m (£586.7m) in the third quarter ended 28 October, driven by growth in menswear, online sales and a strong performance in Asia Pacific.

The Canadian athleisure brand increased its full-year 2018 net revenue outlook to between $3.24bn and $3.25bn (£2.54bn and £2.55bn), up from between $3.19 bn and $3.24bn (£2.4bn and £2.5bn).

It said this will bring the company closer to reaching its goal of $4bn (£3.14bn) in annual revenue by 2020.

Menswear was one of the biggest growth areas during the quarter thanks to a successful capsule collection with Mr Porter, which launched on 22 October.

Lululemon said menswear was on track to account for a quarter of the business by 2020.

Meanwhile, there was a 30% increase in traffic to its website during the period. It has invested in better data analytics and digital marketing as well as making improvements to the checkout, segmentation, search and browse functions.

Market growth was strongest in Asia, where sales were up 61% as the brand launched ecommerce in Korea and its first store in Osaka, Japan.

 

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