Lululemon Mission Statement | Vision | Values | Strategy (2024 Analysis)

Company: Lululemon Athletica, Inc.
CEO: Calvin Mcdonald
Founders: Chip Wilson
Year founded: 1998
Headquarter: Vancouver, British Columbia, Canada
Number of Employees (2021): 25,000
Type: Public
Ticker Symbol: LULU
Annual Revenue(FY 2021): $4.4 Billion
Profit |Net income (FY 2021): $588 Million

Did you know the name Lululemon was chosen with a survey of a hundred people? The company’s unique logo is designed as A, a leftover from one of the rejected names.

Lululemon Athletica Inc. is one of the top athletic apparel brands with extensive international popularity and demand. Featuring a variety of athletic wear, including performance shirts, shorts, and pants, lifestyle apparel and yoga pants and accessories, Lululemon is said to market a complete lifestyle instead of a product.

It was founded in 1998 by a surfing and snowboarding enthusiast, Chip Wilson who took a yoga class in Vancouver and realized the need for sports clothing made of suitable fabrics. That’s when the company began as a single studio design and a yoga studio by night.

Today, Lululemon has become the style signature for sports and fitness enthusiasts. The company has flourished into a multi-store North American chain with worldwide recognition and enormous resources for immense revenue generation rate annually.

Looking at the dynamics of Lululemon’s interesting history and success rate, one can become easily curious to know how they did it. What is the vision, mission, core values, and strategies, which made the company reach the heights of success?

Keep reading, and you shall find out!

Home workouts aren’t complete without distractions from your favourite furry friend, amirite? #NationalPetDay pic.twitter.com/9EiHD1NRQj
— lululemon (@lululemon) April 11, 2021

Table of Contents

Lululemon – Vision Statement Analysis

The company’s vision was sort of formed when Wilson took his first class and was exhilarated by the magic of yoga. At first, the company’s vision was to become a ‘community hub’ of fitness enthusiasts, but afterward, they realized it is not enough. So Lululemon extend their vision of goodness and healthy lifestyle publishing their new statement which is,

“Be the experimental brand that ignites a community of people living the sweat life through sweat, grow and connect”

The mentioned above vision sheds light on the ideologies of its operations which connect the values of health, wellness, and personal development with the company’s interactive approach and innovative products. Through these interactive activities, they tend to turn their customers into a community that supports healthy lifestyles by believing in the brands.

Lululemon’s vision indicates the power of growth which goes beyond geographical boundaries as they want to reflect unity among fitness enthusiasts all over the world, gathered under the name of Lululemon.

Lululemon – Mission Statement Analysis

A mission statement reveals a company’s true ideology in the light of which all the strategic procedures take place. However, Lululemon does not have a traditional mission statement but a mantra which states

“To elevate the world by unleashing the full potential within every one of us.”

The above statement indicates the company’s unique perspective of offering a lifestyle instead of a brand. It supports a set of core values which focuses on prioritizing quality over quantity in their products to provide 100 % value to their customers. The statement also indicates the brand’s promise to respond promptly to challenges that impede its customers, maintaining their lifestyles comfortably.

For instance, it launched curbside pickup and Buy Online Pickup In-store to ensure each customer has access to different shopping to choose from. Focusing on protecting consumers’ lifestyle increased Lululemon’s conversions by more than 45%, while direct-to-consumer revenue rose 155% in Q2 of 2020. Its direct-to-consumer revenue is now mostly eCommerce. [1]

Lululemon – Core Value Analysis

The company’s core values are based upon differentiation, which focuses on creating value for providing a high profile, healthy lifestyles. It strives to stand out among its competitors by offering a unique set of core values.

Here the core values are:

1. Taking personal responsibility

The company focuses on employment growth by encouraging to give their best, pushing themselves for a better result and elevate in the process of learning through which the brand gets empowered gradually. For instance, the company has ramped up the training of its employees to enhance its omnichannel capabilities. It also offers digital educators to help customers shop online more effectively. [2]

2. Nurturing entrepreneurial spirit

Lululemon has always been the second name of innovation. It has always reflected an urge to do something different and hence believe in entrepreneurial ideas and thinking. Lululemon’s founder, Chip Wilson, continues to nurture and mentor young entrepreneurs even after he stepped down in 2015. [3]

3. Acting with honesty and courage

The company proceeds with transparency to keep its name prestigious and well-reputed.

The brand’s honesty and courage were evident after one of its officials, Trevor Fleming, posted an image of a long-sleeved T-shirt displaying anti-Asian sentiment. Lululemon was quick to condemn the post and fired the director.

“We acted immediately, and the person involved is no longer an employee of Lululemon,” the firm said on its Instagram page. [4]

4. Valuing connection

Lululemon supports interaction above all. With customers and within employees. The company promotes the idea of ‘connection’ develop brand and employee loyalty. In 2020, Lululemon turned its focus on building a connection to help millions of people in lockdown at home to keep fit and continue exercising indoors. It introduced several online sports challenges like Move and Stay Connected, which is an online platform that allows people to connect with other worldwide and train together as a community. [5]

5. Choosing to have fun

As per to their vision of living life to the fullest in the most healthy ways, having fun is important at Lululemon.

Lululemon – Strategy Analysis

To achieve the goals, the company implies various marketing, engagement, and sales strategies.

Innovation Forever

Lululemon’s overall strategical theory of health, wellness, and personal goodness lead the company to drive innovation.

Lululemon has always been in the limelight for its innovative approach. With an exceptionally active R&D department, the company is known for its constant innovation, developing market-driven product designs and innovative materials to offer unique product value to the customers.

Some of the most popular exclusive Lululemon materials are

Luon, Lululemon’s original, signature fabric for yoga
Swift, extreme lightweight material made for jogging and running
Luxtreme, wicking fabric for running

Interactive Digital Marketing

Lululemon’s marketing approach is shifting towards high-level digital fame. The brand is portrayed as an essential element of the fitness community to acquire long-lasting relationships with athletic teams, fitness facilities, and yoga studios. These collaborations are well advertised through social platforms and fan-based interactive activities ad competitions.

Lululemon has another interactive program known as Sweat Collective. Sweat collective is an association of the ‘world’s sweatiest leaders.’ These members are involved in fitness studios. Most of the members in this community are instructors, run club leaders, personal trainers, and professional athletes or Olympic athletes who use and promote Lululemon’s products.

The company offers exclusive perks to the Sweat Collective community in terms of special treatments, discounts, and public association with the brand. This campaign not only helps the company to build a robust digital presence but also develop international associations with famous personalities worldwide.

Lululemon launched a virtual waitlist to reduce contact and congestion in its stores by notifying customers when it is their turn to enter the store. It was rolled out across nearly 280 locations and was used by around 400,000 individual guests in August of 2020 alone. [6]

Expanding Market by Launching New Product Lines in Different Regions

Lululemon is a company with exceptionally successful retailing stores. Their retail stores are one of the highest revenue generators per square foot among all US companies. However, the company tends to expand its popularity beyond US borders.

Lululemon sees China and other parts of the world having more potential to welcome their new innovative products such as their new sportswear collection for men.

To attract a broader audience, Lululemon collaborated with Mr. Porter to deliver exclusive athletic apparel for men. This strategy has enhanced brand awareness among men. In 2020, around 30% of all new customers attracted to Lululemon are men.

“We feel like we’re just getting started in men’s. We see Lululemon growing into a dual-gender brand,” said former COO Stuart Haselden. [7]

Lululemon has a well-developed line of products for women, which is considered their most wanted range. But now to expand things internationally as well, the company is experimenting and launching interesting accessories and clothing in men and other categories.

Conclusion

Lululemon has an exclusive brand image associated with its immense international recognition. Each of its set of strategic operations from all the departments strives to achieve the goal of creating value for their customers.

These strategies have until now successfully improved and enhanced Lululemon as a brand among other athletic apparel brands, making it one of the leading sports fashion company.

References & more information