lululemon is training a whole new generation of yoga enthusiasts with a brand targeting girls as young as six. Ivivva Athletica, pronounced "ih - vee - va," will have 20 stores open by the end of the year. The brand is a bright spot for the company. Ivivva's same-store sales soared 37 percent in the most recent quarter, according to lululemon CEO Laurent Potdevin. During the same time period, sales at lululemon stores open at least a year fell 3 percent.
lululemon Athletica founder Dennis Wilson voted against the re-election of board members Michael Casey and RoAnn Costin, saying he found the board too heavily weighted toward short-term results. "I am concerned that the board is not aligned with the core values of product and innovation on which lululemon was founded," Wilson, who owns 27 percent of the the athletic-wear company, said in a statement. The yoga-clothing retailer has been working to regain shoppers' loyalty after it recalled one of its most popular
Athletic apparel maker lululemon athletica said Tuesday founder Chip Wilson will step down as chairman of the board, following his controversial statement about women's body types. The Vancouver-based company also announced that Laurent Potdevin will take over as CEO in January and join the board. Potdevin succeeds Christine Day, who announced in June that she planned to resign after her six-year tenure. Wilson, who was serving as nonexecutive chairman, plans to step down prior to the company's annual meeting in June 2014, and will be replaced by board member Michael Casey.