Lululemon Formally Launched A Brand New Product Category With Great Room For Development.

It is reported that Lululemon began selling personal care products in 50 stores and online in June 18th, including dry cleaning shampoo, deodorant, facial moisturizing cream and lip balm.

In recent years, Lululemon business has achieved explosive growth. The volume of its stores grew by 8% in the first quarter, and online sales increased by 35%, exceeding expectations.

Analysts expect that this trend will not slow down soon, and Lululemon has great room for development in new product categories.

In this regard, Lululemon CEO Calvin McDonald said, "the main drivers of growth are still user favorite products, such as tight pants and jogging pants. However, we have identified several emerging areas, and we hope to test new products and bring innovation to users. "

In addition to the new body care series, Lululemon also hinted that shoes would be introduced.

"We believe that the sports industry is still one of the highlights in the grim retail environment," Ike Boruchow, an analyst, said in a research report. "Lululemon has strong momentum and high visibility in this field."

It is understood that many investors like Lululemon's new approach. As of Monday's market closing, Lululemon shares have risen more than 50% so far, and the company's market capitalization is nearly $24 billion.

In fact, the opening of a new Lululemon store in Chicago in summer has also aroused heated discussion. The retailer is building a 20 thousand square foot store near Lincoln Park, including yoga studio, juice bar and meditation room. Lululemon said that by 2023, about 10% of the stores will be "experiential shops" just like Chicago's new store.