Here are a few key points I noted from the Q3 phone call of interest to us as consumers. I love getting insight into the direction of my favourite company. You can listen to the call on the Lululemon Investor Site. What do you fellow Lululemon fans think?
-e- comm site up 200% since Q3 last year (wow nelly!).
plans are to expand sales reach through the ecomm site with a new platform wich includes a new inventory sourcing systems (Hooray!) and digital strategy to leverage our social media presence (blogger outreach? Yes please), working on supply chain and tracking fabric manufacturing forcasting dates.
-International growth and sales to customers in Europe:
Not yet being proactive in marketing to Europe. New platform will be better for orders to UK, Japan, Singapore etc. working on local currencies going forward. Hong Kong showroom shows market demand but not ready to turn it into a full store. Small UK presence with one primary wholesale account and working on a few more. Strong interest from Germany, UK, Japan, Hong Kong and Singapore (the blog stats certainly show this)
-Sourcing cost pressure is impacting inventory buys (intersting, Swiftly’s? new luon blends?) Just finished summer buys for fabrics and will be buying Q3 product shortly. The power of cozy is winning at lululemon, running luon is doing excellent as well as layering items and outerwear for the run line. Brushed running tights and running accessories. The guest is responding well with the whole layered pieces look.
-Ivivva opening Edmonton and Toronto.
-Quantifying the Oprah Effect:
Very little Oprah effect so far. A little bit of a bump on ecomm with some new visitors, did sell more of the Relaxed Fit Pants and all pants sales were up that week and an equally strong week the next week but that may be attributed to the holiday shopping season. Only knew a few weeks in advance of the show that this was happening so not much time to prepare for it. Although the new webskin was implemented and tested prior to the show. Oprah doesn’t like it when you market off of the show so they honored that relationship by not using it as a marketing opportunity.