Lululemon Speeds Up The Pace Of Expanding The European Market, With Fewer Than 30 Stores.

As part of its strategy to expand its European market, Lululemon, a famous Canadian sportswear retailer (Lulu Le Meng), has opened a brand store in Saint Germain de Pepe, Paris, and announced that it plans to open a new brand store in Royal Exchange Square 18-20, Glasgow, Scotland.
With the increasing demand of consumers for health and fitness, the growth rate of Lululemon has been decreasing in recent years. According to previous reports, sales in the second quarter of fiscal year 2019 increased by 22% over the second quarter of fiscal year, and sales increased by more than 10% in comparable stores over seventh consecutive quarters. Sustained growth in sales has given Lululemon great confidence, raising its annual sales forecast, from 3 billion 800 million to 3 billion 840 million dollars.
Since the establishment and development of the brand, Lululemon has become one of the most important participants in the sports apparel field. Through the online and offline development and the overseas market, it has achieved remarkable results. With the continuous development of brand to overseas market, overseas market has become the focus of Lululemon's future development, especially the European market.
However, Lululemon has opened less than 30 stores in Europe, and there is no doubt that there will be huge room for development in the future.
Gareth Pope, general manager of Lululemon Europe, Middle East and Africa, said: "the biggest challenge in the European market is how to locate the most important market. We have already had a large number of loyal consumers in Zurich and Amsterdam. Now we begin to focus on developing the UK, Germany and France markets."
Lululemon opened 10 brand stores in London and opened brand stores in Manchester and Edinburgh. There were two stores in Berlin, Germany, and two outlets in Dusseldorf, Hamburg, Frankfurt and Munich. Compared to the United Kingdom and Germany, Lululemon has only two brand stores in France and several brand exhibition rooms, all located in Paris, capital of France.
Gareth Pope said: "Lululemon needs time to develop slowly. We plan to open more stores in the future. The European market has great potential for development, so opening up the European market is not only a challenge, but also a great opportunity.
In April this year, Lululemon formulated the "Power of Three" five year plan, one of the goals is to achieve three times the growth of foreign market sales by 2023. The three major growth strategies of the program include: detailed product innovation: expanding yoga, running and training product lines.
Multi channel customer experience: enhancing brand viscosity through innovative online optimization and offline fitness programs
Market expansion: accelerate the development of the EMEA market and the Asia Pacific market, especially in the European market and the Chinese market.