Strengths:
- Purpose-driven company.
- High brand Ethos.
- High-quality products.
- Strong brand reputation.
- Innovative approach to designing product.
- Dependable- known to deliver quality products and experiences for consumers consistently.
- Offers personalization for consumers to customize their products.
- Partners with profound brands, Ex. Peloton.
Weaknesses:
- Lack of brand events to raise awareness of new launches and advertise new products.
- Higher price points than competitors like Nike and Under Armour. Products may not be attainable for parties under a certain income threshold.
- Sizing inclusivity.
- Dependence on company-owned stores to generate revenue can fluctuate the consumer traffic and revenue of products.
- Past controversies that have impacted the brand name and Image.
Opportunities:
- Expanding and focusing on product diversity into sectors like shoes and accessories can reach a bigger demographic, increase revenue, and compete with competitors.
- Collaborate with Influencers and celebrities to create new products and boost brand awareness.
- Leveraging their E-commerce presence by offering virtual fitness classes or new initiatives that appeal to the consumer.
- Incorporating sustainable and ethical practices will appeal to a larger demographic and boost brand morale and values.
Threats:
- Emerging fast fashion athletic brands that offer apparel at a lower price point.
- Uprising of competitor brands like Alo can hinder the current buying power of consumers
- Changes in consumer wants and needs due to evolving trends and preferences
- Counterfeit products have become accessible and highly sought after due to the price point of products
- Regulatory risks due to operating in multiple countries and the uncertainty of the geopolitical climate.
***Disclaimer: The above brand storytelling elements and all of the lululemon materials found in this portfolio were created as part of MA program coursework at the University of Southern California and are not affiliated with the official lululemon brand.***