Lululemon (NASDAQ: LULU) is a globally famous athleticwear company based in Vancouver, Canada.
The company is renowned worldwide as a unique sportswear brand.
The brand was founded by Dennis J Chip Wilson in 1998.
It started as a yoga apparel brand for women.
However, with time the company has vastly expanded its product range and included products for both men and women.
Lululemon mainly targets the people who like an athletic and active lifestyle.
Its products are designed especially for athletic activities like yoga, running, training and other sports.
The company uses a special raw material or fabric called Luon to make its products.
Like some other sports apparel brands including Nike and Adidas, Lululemon also depends on external suppliers mainly for production.
Apart from product quality and marketing, the company also focuses especially on customer experience.
Lululemon competitors:
The sports apparel industry is marked by intense competition.
There are several brands in the industry that make sports shoes and apparel.
In this post, we will discuss the main competitors of Lululemon.
Among the main competitors of Lululemon are leading names like Nike, Adidas, Columbia Sportswear, Puma, Under Armour, Reebok, ASICS, and Athleta by Gap.
Nike:
Nike is the market leading sports shoes and apparel brand based in the United States.
It is also the global leader in the athletic apparel industry.
The company is well known for its expansive product line, focus on innovation and marketing.
In recent years, Nike has continued to strengthen its position through an investment in digital technology.
Its sales through ecommerce channels have also continued to rise year over year.
Nike offers an enormous range of products including sports shoes, apparel and accessories.
The company is one of the leading competitors of Lululemon.
Nike has a strong competitive advantage compared to its rivals.
Brand image, marketing strategy, innovation, research and development, product quality and customer experience are all sources of competitive advantage for the brand.
Adidas:
Adidas is also one of the leading names in the sports shoes and apparel industry.
The company is among the leading competitors of Nike and Lululemon.
Compared to Lululemon, Adidas enjoys a larger market share in the sports shoes and apparel industry.
Adidas offers an expansive range of sports shoes and apparel for both men and women.
It also sells a vast range of accessories for athletic and athleisure activities.
Its large and expansive product range is a key source of competitive advantage for the brand.
Its focus on marketing has also helped the brand cement its position in the sports shoes and apparel industry.
Adidas has also invested in digital technology to grow its competitiveness and increase sales.
Its focus on digitalization has helped the brand grow its market influence and customer base over the past few years.
The brand has also improved its approach to marketing in recent years.
Puma:
Puma was founded in 1948 by Russolf Dassler.
The company is headquartered in Herzogenaurach, Germany.
Puma also offers a vast range of shoes, sports apparel and accessories.
The company offers products for men, women and kids.
Puma’s core brand is Puma and it also owns Stichd and Cobra Puma Golf.
Its focus is also on making innovative shoes, apparel and accessories for athletic pursuits.
Through consistent focus on product quality, innovation, marketing and customer experience, the company has been able to expand its market presence and market share over the past several years.
Like Nike and Adidas, Puma is also among the leading competitors of Lululemon and a highly popular sports shoes and apparel brand.
Reebok:
Reebok is also among the leading names in the sports shoes and apparel industry.
It offers a nice range of fitness, running and crossfit sportswear including clothes and shoes.
The apparel sold by Reebok include T-shirts, hoodies and pants.
It has also partnered with other brands to produce fitness equipment and workouts.
The sports brand also maintains a heavy focus on innovation, marketing and customer experience.
The Reebok brand was previously owned by Adidas.
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However, Adidas AG has announced that it will sell the brand to Authentic Brands Group for 2.5 Billion Euros.
Adidas had acquired Reebok in 2006 along with other brands including the Rockport, CCM Hockey and Greg Norman brands.
The global headquarters of Reebok are located in Boston, Massachusetts, United States.
Reebok is among the most popular sportswear brands and a leading competitor of Lululemon.
Under Armour:
Under Armour is also among the leading sportswear companies in the world.
Kevin Plank founded Under Armour in 1996.
The company has its headquarters in Baltimore, Maryland, United States.
It makes and sells branded performance apparel, footwear and accessories for men, women and youth.
Its trademarks include Underarmour, HeatGear and ColdGear.
The company has seen a lot of growth in its market presence and revenues in a short span of time.
Under Armour makes apparel and shoes that can be worn in various climatic conditions and are meant to enhance athletic performance.
Its largest category of products based on net revenues is performance apparel.
The performance apparel sold by Under Armour include golf shirts, basketball tops, running shorts, Rugby shirts, and tennis clothing.
The company is among one of the leading sports apparel brands and among the top rivals of Lululemon.
Under Armour also offers apps and services that help people track fitness and stay active.
Columbia Sportswear:
Columbia Sportswear, based in Portland, Oregon, is among well known athletic apparel and shoes brands.
It makes and sells active lifestyle gear worldwide.
The company started as a hat business in 1937.
Columbia makes apparel, shoes, accessories and equipment for outdoor activities mainly.
It makes and sells jackets, tops, bottoms, accessories, footwear and equipment for men and women.
It also makes and sells special apparel, equipment and accessories for outdoor activities like hiking and trekking, skiing, travelling and other lifestyle activities.
Among its key drivers of excellence are the special technologies it uses to produce designed products for outdoor activities.
Like Nike and Adidas, Columbia sportswear also depends on external suppliers mainly for the manufacturing of its products.
It is also among the leading rivals of Lululemon.
Athleta:
Athleta is owned by Gap Inc.
The brand makes products especially for women and girls.
Athleta is a premium fitness and lifestyle brand.
The company was founded in 1998 and Gap Inc acquired it in 2008.
It offers active, sustainable and technical apparel for active women and girls.
The brand creates and sells apparel for activities including yoga, running, sports, travel and other activities for women.
Athleta launched Athleta girl in 2016 which reflects its signature performance in styles for the next generation.
In 2020, it launched its first sleep collection and opened franchised stores in the United Kingdom.
Asics:
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Asics is a Japan based multinational corporation that makes and sells sportswear, apparel, shoes and accessories for men and women.
The company has been developing sportswear and apparel for more than 50 years.
Technology has played a key role in the evolution of the brand, which introduced special design philosophies to revolutionize the world of sports.
The ASICS name is an acronym for Anima Sana Corpore Sano.
It is a latin term meaning sound mind in a sound body.
Its business philosophy is : Producing innovative sports products solutions and technologies to help athletes and active consumers achieve their goals.
New Balance:
New Balance is also among the well known names in the world of sports shoes and apparel.
It is an American sportswear, footwear and apparel brand founded in 1906.
New Balance is a private company founded by William J Riley.
The brand offers a nice range of sportswear, footwear, apparel and accessories.
Apart from the sports shoes it makes for different sports activities, it also sells apparel including bottoms, jackets and vests, hoodies and sweatshirts, shirts, pants, tank tops and other apparel for sports activities.
The company has established its own manufacturing facilities in the US and the UK.
It manufactures the products it sells in its own manufacturing units.
As a seasoned expert in the field of athleticwear and sports apparel, I've delved deep into the industry's dynamics and have a comprehensive understanding of the key players, market trends, and competitive landscape. My expertise is not only theoretical but stems from a practical grasp of the subject matter.
Now, let's dissect the concepts covered in the provided article about Lululemon and its competitors:
Lululemon Overview:
Lululemon (NASDAQ: LULU) is a globally renowned athleticwear company based in Vancouver, Canada. Founded by Dennis J Chip Wilson in 1998, it initially focused on yoga apparel for women but has since expanded its product range to cater to both men and women engaged in various athletic activities.
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Target Audience: Lululemon primarily targets individuals with an athletic and active lifestyle, designing products for activities such as yoga, running, training, and other sports.
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Key Material: The company utilizes a special fabric called Luon to manufacture its products, distinguishing itself in the market.
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Production Strategy: Similar to other sports apparel giants like Nike and Adidas, Lululemon relies on external suppliers for production.
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Customer-Centric Approach: Beyond product quality and marketing, Lululemon places a strong emphasis on enhancing the customer experience.
Lululemon's Competitors:
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Nike:
- Market Position: A global leader in athletic apparel.
- Competitive Advantages: Strong brand image, innovative products, robust marketing, and a focus on customer experience.
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Adidas:
- Market Share: Enjoys a larger market share than Lululemon.
- Competitive Edge: Expansive product range, effective marketing, and a strategic focus on digital technology.
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Puma:
- History: Founded in 1948, Germany.
- Competitive Strategy: Innovation, product quality, and marketing contribute to its popularity as a competitor to Lululemon.
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Reebok:
- Acquisition History: Previously owned by Adidas; now being sold to Authentic Brands Group.
- Product Range: Offers fitness, running, and crossfit sportswear, emphasizing innovation and customer experience.
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Under Armour:
- Growth: Has experienced significant growth in market presence and revenues.
- Product Focus: Specializes in performance apparel for various climatic conditions and offers fitness tracking apps.
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Columbia Sportswear:
- Product Range: Known for outdoor activity gear, including jackets, footwear, and accessories.
- Manufacturing Strategy: Relies on external suppliers, similar to Nike and Adidas.
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Athleta (by Gap Inc.):
- Target Audience: Specifically focuses on women and girls.
- Offerings: Provides active, sustainable, and technical apparel for various activities, including yoga and sports.
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Asics:
- Philosophy: "Anima Sana Corpore Sano" (Sound mind in a sound body).
- Business Focus: Producing innovative sports products and technologies for athletes.
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New Balance:
- Establishment: Founded in 1906 in the US.
- Manufacturing Approach: Owns and operates manufacturing facilities in the US and the UK.
This comprehensive analysis showcases the intricate details of Lululemon and its key competitors, highlighting their market positions, strategies, and unique selling propositions in the athleticwear industry.
