Lululemon to restructure Ivivva business
05/06/2017
On announcing the results, Lululemon CEO Laurent Potdevin said he was excited about the “positive trends” that emerged at the end of the quarter. He added that Lululemon’s outlook for the rest of 2017 is “strong”.
The company also announced that it will restructure its Ivivva Atheltica business, which was launched in 2009. The activewear range is aimed at preteen girls with apparel similar in quality and function to Lululemon products, but with wider appeal in colour and fit.
It will now operate Ivivva as a “primarily e-commerce focuses business”, with approximately 40 of its 55 Ivivva branded stores to close. Half of the remaining stores will be converted to Lululemon branded stores, but some will remain in key locations across North America.
Lululemon expects the closures and restructuring to be “substantially complete” by the end of the third quarter.
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