Chapter 5: Business-Level Strategy, discusses the importance of creating and sustaining competitive advantages. In order to succeed, it is key to make sure your company or brand stands out from the competition.
Competitors of Lululemon include Nike and Adidas; however, Lululemon has found ways to differentiate themselves from the pack. One of the main things the company is known for, is the material of their products. Lululemon has innovated and trademarked materials in order to create soft, light-weight clothing items made for both athletic and at-home activities. According to one article, “Even Nike with all of its design prowess hasn’t been able to successfully take on Lululemon in its own backyard.”
Another way Lululemon differentiates from competitors is with their marketing strategy. Instead of using name-brand celebrities and athletes to enhance their product, Lululemon focuses on ambassadors true to the Lululemon community. The company has received positive feedback on this approach, as it stays true to the brand’s values and mission of having a connection with their community.
https://www.indigo9digital.com/blog/lululemongrowthstrategy
https://www.hivelr.com/2020/11/lululemon-porters-five-forces-industry-and-competition-analysis/
Global Strategic MGMT x Lululemon 