"I've believed that Lululemon has lost its cool for some time, but it is now evident to me that the Company has completely lost its way as a leader in technical apparel."
"It is clear that persistent failures like this are born out of this Board's lack of experience in creative businesses, disinterest in product development and quality, and focus on short-term, self-interested priorities."
"LULU's withdrawal of a new legging line underscores ongoing execution issues in its core and raises further concerns about the durability of its innovation engine and premium positioning."
The 'Get Low' leggings were pulled from online sales after guest feedback, while inventory remained available in stores. Chip Wilson described the pullback as a total operational failure and attributed it to the company's board, citing inexperience in creative businesses, disinterest in product development and quality, and short-term, self-interested priorities. The recall followed a July 2024 pullback of the 'Breezethrough' line over seam complaints. Analysts warned the withdrawal highlights execution problems and risks to Lululemon's innovation and premium positioning. Lululemon's stock has fallen about 10% in five days and over 50% year-to-date.
Read at Business Insider
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