Global activewear brand lululemon has turned to a Sydney startup as it searches for new markets in the face of declining sales.
Its US store sales have fallen by 5% in the last quarter and analysts at Sterne Agee downgraded the retailer from “neutral” to “underperform,” citing lasting damage from product quality issues and difficulty attracting new customers, among other issues.
After seeming to have reached a growth peak through bricks and mortar, the retailer has struck its first deal in the online sector, signing a digital partnership with Stylerunner, an activewear e-retailer in Sydney.
In two years Stylerunner has grown from 11 brands to almost 50 and now ships to 60 countries. The partnership adds to Stylerunner’s range of exclusive deals, including brands such as Nike and adidas by Stella McCartney.
Twin sisters, Julie and Sali Stevanja, co-founders of Stylerunner, say partnering with one of the largest and most technically advanced yoga wear brands in the world is a huge win.
“We’re extremely selective with the brands we bring on board, as we are committed to bringing our customers the best experience and offering possible. They want to look and feel good in premium activewear that does what it says it does. lululemon ticks all of these boxes,” Sali said.
lululemon will be available on www.stylerunner.com on November 24.
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