In a recent public statement, Andy Lawrence, vice president of international list of luxembourg whatsapp phone numbers at Vuori, expressed a different opinion on this label. He explained that when Vuori first entered the Chinese market, the label "men's version of lululemon" did help Vuori expand its popularity, but overall, Vuori's business is very different from lululemon, and even yoga products are not the largest component of the brand's product structure.
In Andy Lawrence's view, the style and pricing of Vuori's yoga product line are also significantly different from those of brands such as lululemon and maia active. The brand hopes that Vuori's products are flexible list of luxembourg whatsapp phone numbers not just about yoga, but related to a wider range of sports scenarios.
Image from Vuori Tmall official flagship store
By increasing its investment in the Chinese market, can it replicate lululemon’s business myth?
Although Vuori does not want to be framed by the label of "male version of Lululemon", it remains unknown whether it can reach the heights of lululemon in the Chinese market.
It is understood that Vuori's current round of financing will focus on expansion in the Asian market. In an interview with Jiemian, Andy Lawrence revealed that the company will open its third store in Shanghai, and will also promote the opening of stores in first-tier cities such as Beijing, Shenzhen and Guangzhou.
According to public information, former Reebok executive Cecaa Tian has joined Vuori and is responsible for the operations of the brand's Chinese marketing department. He plans to open large stores and build sports communities. Vuori's expansion in China may be accelerated.
However, Vuori will face a large number of strong competitors in the Chinese market. In recent years, thanks to the promotion of outdoor sports and the change of fashion trends, brands such as lululemon, Salomon, and Arc'teryx have become the favorites of the middle class. On social media, some people call Salomon trendy shoes, lululemon yoga pants, and Arc'teryx jackets the "three-piece suit for the middle class."
But even lululemon, a brand with great potential, is facing market challenges. In the second quarter of fiscal year 2024, lululemon achieved operating income of US$2.4 billion, a year-on-year increase of 7%; net profit of US$393 million, a year-on-year increase of 15%, but the performance in different regions was mixed. In the US market, its revenue fell by 0.2% year-on-year, and the revenue growth rate in the Chinese market dropped from more than 60% in previous years to 34%, and the growth rate slowed down significantly.
