Lululemon’s 2022 Footwear Launch Described as a ‘Test and Learn’
Lululemon remains on track to bring its own branded footwear to the market in 2022, though LULU senior executives offered few details about the brand’s planned entry into footwear during the company’s Q3 earnings call last week.
“We’re excited about it, excited about the opportunity and our unique position,” offered LULU CEO Calvin McDonald, “but it’s not required in the power of three growth commitments that we’ve shared (with the investment community) and therefore, (we) are taking a growth approach to this new initiative.”
McDonald confirmed that the footwear is “still on track for a Spring '22 launch.” He added, “And just as a reminder and consistent with how we've shared it, it's a test and learn for us.”
Lululemon’s North American sales rose 28 percent in Q3 as total company revenues increased 30 percent to $1.45 billion, above expectations. Annual revenue guidance for the company’s MIRROR business was lowered to $125-130 million. (Lululemon acquired MIRROR, maker of the “nearly invisible, interactive home gym,” in 2020.)