Canadian Retailer - January/February 2010 - (Page 20)

R E TA I L P RO F I L E NING ALUES, PLAN CORE V EY TO RSPECTIVE K AND PE ON S OF LULULEM thletic SUCCES ta tailer Canadian Re . TA R RY BY S E A N C st Coas flourishing We The outperformed any apparel comp petitors last year. m . many of its co finds out how A L L P H OTO S C O U R T E SY O F WA X Y P H OTO G R A P H Y Christine Day, CEO of Lululemon Athletica Inc., has ensured the company’s continued success, while leading the brand to impressive growth. aintaining and driving a working culture that professes quality, product, integrity, balance, entrepreneurship, greatness and fun as its core values can’t be easy. Yet, for Christine Day, it simply requires an extension of the values that shape her life away from the office. As CEO of Vancouver-based athletic apparel company Lululemon Athletica Inc., Day has helped lead the company to impressive growth over the past year. With a strong third quarter increase of 30% in net revenue, coupled with an outlook that seems just as encouraging, it seems that Day and Lululemon are a match meant to be. “A high level of personal integrity, truth, the willingness to work hard and do the right thing are the guiding principles of how I live my life,” she says, “And I think that’s ref lected here at Lululemon. Those are really the foundations of the company” Day recognizes the natural fit between her personal values and those of the company that she heads. She also realizes that those very beliefs and foundations are what customers respond most strongly to. “I think if you’re being honest and you’re working hard, then that ethic will show up in everything you do. And I know that our guests respect that. They would never get the feeling that we’re hiding something from them.” Lululemon was founded by Chip Wilson in 1998, sharing retail space with a yoga studio during its humble beginnings. The brand now boasts more than 100 stores, with locations M in Canada, the United States, Australia and Hong Kong, appealing to a very broad bandwidth of consumers aged 15-50. Although the majority of the company’s customer-base is female, who does it identify as the main driver of the brand? “The important thing is more in psychographics than demographics in identifying who the key inf luencer of our brand is?” she explains. “And it’s really that active, fit woman in her early 30s. She’s the one who inf luences the older and younger women. Women go to yoga classes and they look around to see what everybody’s wearing. And they want what that attractive, young, fit woman is wearing. That’s really where we spend a lot of our effort.” Understanding the customer pays dividends for any retailer. But what is it about the Lululemon brand that Day considers to be the key to its success? “The quality of the product, in particular the fabrics, have really broad appeal,” she says. “And some of the things that we do have such great style, but can be worn for golf, hiking and other activities. Not many retailers really do that crossover.” In addition to gaining appeal through the quality of its product line, Lululemon also attract customers based on its company mission - ‘creating components for people to live a longer, healthier, more fun life’. A mission that Day sees reaping benefits all the time. “People want to lead fit and active lifestyles. They want to maintain or achieve that prime athletic fitness. That’s how people are identifying with us.” 2 0 | C A N A D I A N R E TA I L E R | J A N UA R Y/ F E B R U A R Y 2 010 | www.retailcouncil.org/cdnretailer http://www.retailcouncil.org/cdnretailer

Table of Contents for the Digital Edition of Canadian Retailer - January/February 2010

Canadian Retailer - January/February 2010
Contents
Publisher’s Desk
Shop Talk
Store Design
In Your Interest
Retail Generations
Retail Profile
Loss Prevention Supplement
Human Resources
Marketing and Advertising
Member Profile
Advertisers’ Index
You Asked Us

Canadian Retailer - January/February 2010

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