Lululemon Will Enter The Footwear Market To Find The "Blank Area" Of The Market.

On Wednesday, Calvin McDonald, chief executive of Lululemon, the famous Canadian Yoga sportswear retailer, announced the latest five year growth plan recently, and said Lululemon will enter the footwear market.

Although the sports footwear market has been monopolized by Nike (Nike) and Adidas (Adidas) giants, Calvin McDonald has found the "blank area" of the market.

He said: "we tested footwear products and learned a lot from them. Consumers support us in selling shoes.

We believe that we have found a unique opportunity for Lululemon and the whole market. "

"Small brands are booming, growing faster than the market as a whole."

NPD Group sports analyst Matt Powell describes today's sports shoes Market in the United States.

It is not clear at the moment what the new Lululemon shoes will look like, practical fitness shoes, or sports shoes enthusiasts.

Calvin McDonald declined to give more details, but said more information would be released before the end of the year.

He said: "we hope to achieve this plan in person, and then share it with you."

Lululemon currently has a small number of sports shoes for sale.

In August 2017, Lululemon began launching some sports shoes in Losangeles with some sports shoes manufacturer Athletic Propulsion Labs from 140 to 200 US dollars, and is now on sale at the official website of Lululemon.

This is the first time that Lululemon has launched footwear products and is also testing the footwear market.

Calvin McDonald said that in the future, he will enter the footwear market with a high profile on this successful experience.

The launch of footwear is part of a five year growth plan announced by Lululemon executives to investors and analysts.

The three major growth strategies of the five year plan include:

Product innovation

Multi-channel customer experience

Market expansion

In addition, Lululemon emphasized that by 2023, the sales revenue of men's clothing and online business can be doubled, the sales revenue of online business will be doubled, and the international sales revenue will increase by three times.

Lululemon's overseas expansion will be concentrated in China and other Asian and European markets.

It announced plans to set up 25~30 stores overseas this year.

At the same time, the company said there is still potential for growth in the North American market.

Lululemon, famous for Yoga sportswear and fitness equipment, is expanding its product range.

In the first half of this month, Lululemon launched a series of beauty and body care, including moisturizing cream, balsam and dry shampoo specially designed for sports people.

As of the close of April 24th, Lululemon's share price edged up 0.84% to $178.27 per share compared with the previous session.