Global retailer Lululemon pushes further into New Zealand & More News Here

Global athleisure retailer Lululemon is increasing further into New Zealand, with plans to open extra shops throughout the nation as it really works in direction of its purpose of quadrupling progress.

Last week the Canadian model opened a
glitzy 350sqm retailer in Westfield Newmarket – the retailer’s first mall retailer location in New Zealand, taking the retail firm’s native bricks and mortar footprint to eight shops.

Lululemon additionally has shops in Ponsonby, Takapuna, Commercial Bay, Mount Maunganui, Wellington, Christchurch and Queenstown. It has been working in New Zealand since 2011.

Trevor Holland, director of Lululemon in New Zealand and Australia, stated Lululemon had its eye on the Newmarket web site for fairly a while and the inside design of the shop was just like these positioned all through the world. While the brand new retailer was not the model’s largest in New Zealand, it supplied the biggest product assortment, he stated.

Lululemon – which began out in Vancouver as a yoga enterprise – has skilled big progress within the New Zealand market even with the Covid-19 pandemic forcing retailer closures and disrupting commerce.

Holland stated the approach to life model had been an enormous success up to now two years, experiencing big progress notably in Christchurch and Wellington.

The model is exploring alternatives to broaden further all through the nation with new retailer openings, in addition to relocating and increasing present shops.

“One of our global goals is market expansion and that looks different in every part of the globe. There is certainly expansion some [planned] new market entries in countries or communities we’re not currently in that we’re exploring,” Holland advised the Herald.

The enlargement plan for the New Zealand market, was just like that for Australia, he stated.

“Those are both two of our most mature international markets and our growth strategy looks like a combination of a few things: looking for new stores – Newmarket is a perfect example of that; [looking at] where there is a gap where we feel a store would work.

“We do not simply wish to put a retailer [though] and try to make it work, it’s [dependent] on the visitor actually wanting it, and the place numerous gross sales are coming by means of our e-commerce.

“The other strategies are relocation or optimisation – expanding or refurbishing stores.”

Later within the 12 months, Lululemon will start the relocation of two of its native shops. Holland stated the retailer would quickly start refreshing half of its native retailer portfolio, both by means of refurbishment or relocation.

He was tight-lipped on if there have been any new retailer openings within the works.

“We’re definitely exploring where there are those other pockets of opportunity and communities that we could have a physical presence. Of course, there is e-commerce, but there is something special about a physical store.”

Asia Pacific is a significant focus for bricks and mortar enlargement for the corporate. It is at the moment increasing its retailer community in Taiwan, Hong Kong, Korea and Japan.

Lululemon began in Vancouver as a boutique yoga enterprise, which made attire upstairs above its health studio. The enterprise is vastly well-liked in its native North America and has shops all through Europe, China and the Asia Pacific.

Today it has greater than 550 shops worldwide.

“There’s definitely an expansion focus on APAC overall.”

In 2019, listed Lululemon outlined that it had plans to “quadruple growth by 2023”. During a current analyst day, the corporate shared that it was on observe to attain that purpose early.

“There is a lot of opportunity in the international markets. The brand is resonating across different cultures and countries.”

Holland stated Lululemon had largely benefitted from the pandemic as extra shoppers had realised their should be bodily match for the reason that onset of Covid-19. “I’d say it has helped accelerate growth for us – there have certainly been challenges with having a lot of our physical stores closed – but [ultimately] I do think it has helped accelerate the growth of the brand.”

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