According to CNBC, Lululemon will close its children's clothing brand Ivivva, and 7 Ivivva stores will close before the middle of next year. This is one of their steps to boost the sales of men's clothing and international business.
In response to this, Lululemon Celeste Burgoyne, the executive vice president of Lululemon Americas, said by email to CNBC, "we have decided to terminate the Ivivva business, which is to release capacity and promote the long-term development of the company."
The children's wear brand was founded in 2009, and the main products include tight pants and vest for young girls. In 2017, Lululemon closed nearly 50 Ivivva stores and shifted its business to online.
In April this year, lululemon held its first investor day after 2014, announces its next five year plan. Before 2023, their goal was to quadruple men's clothing and digital income. International income doubled four times. The core business, women's clothing and North American outlets, increased double-digit income every year.
Source: lazy bear sports writer: Zhuang Kunchao