lululemon to Exit its Kid's Business, Closing Remaining ivivva Stores
lululemon is planning to wind down its ivivva kids business, which includes shuttering a handful of remaining stores, as part of a bid to grow men’s and international sales. The company said its seven remaining standalone ivivva stores — three in Canada and four in the U.S. — will close by the middle of next year. The winding down also means lululemon will be pulling any remaining assortments of ivivva merchandise out of eight lululemon stores, where it still has shop-in-shops. ivivva launched in 2009, offering sporty leggings and tank tops for younger girls.
Total Retail's Take: lululemon is moving on from its underperforming kid's business and reallocating those resources to growing its men's and international businesses. The athletic apparel retailer is seeking to replicate the success it has had marketing and selling to women — its shares have risen more than 55 percent this year — with men, as well as it expanding its business internationally. lululemon's strategy makes sense — men's apparel sales are growing more rapidly than women's.
“It’s growing faster than our women’s business,” Stuart Haselden, lululemon’s chief operating officer, said of the brand's men's business. “We really believe that lululemon can be a dual-gender brand, and that our men’s business can ultimately be as big as our women’s.”