People say that Lululemon is nothing more than overpriced 'Athleisure' wear with a good brand and will be a fast-fad, much like many of the high-end fashion brands that have proceeded it. I haven't done a deep dive into the financials of $LULU, but I do know what I see - that damn horseshoe is everywhere. And its been around for a while...so what has it done that other high-flyer niche fashion companies have not?
There's a lot in Lululemon's marketing that strikes a chord with the consumer. Lululemon has really taken the idea of 'lifestyle marketing' to a whole new level. The company offers yoga classes and really promotes a lifestyle that people connect with. As this country goes through this whole 'health-and-wellness' phase, there is a lot of appeal for a company that promotes wellness and 'zen' as a part of everyday life - not a radical change to the way a person lives, but a perception of brand-promise.
The damn bags:
So you have to start with the damn red bags. Yes, they're bold and confusing - nobody could ever tell you what they say, but it's likely something very 'zen'. However, they're recognizable & reusable. In a day where most companies are still selling product in disposable bags, the idea of a reusable bag as a marketing tool is brilliant. And yes, you see the horseshoe, which has significant brand connotation now.
Wear it. Be it (sort of):
I'm not sure if most of the people walking around with that horseshoe logo on their clothes actually do any type of yoga or physical exercise. In fact, I'm quite certain that some of them don't. However, the logo provides a feeling of empowerment - an image of "I'm hip AND healthy". There is something very clever about how the company has spun its lifestyle image to empower people who have no clue what fitness is. I'm no branding expert, but when you can convince somebody that wearing a particular brand (at a premium price) will project an image of health and wellness - that's incredible.
Did I just see that?
So...you're in a mall and you happen to see a bunch of people huddling around a red banner and you get curious about what the heck is going on [ref: pic above]. You get a little closer and you see two people (a male and female) doing crazy yoga poses.You think to yourself, "wow, that's odd." But then you look around and there are a whole bunch of people watching. What the heck are they watching? Well first, they're watching some crazy yoga poses. But second, they're watching a company market itself. It's bold; it's a bit odd; but, it gets peoples' attention. Is that not what marketing is all about? Creating initiatives that get people interested and eventually find their ways into your stores?
I'm quite amazed. I'm quite confused. I'm quite impressed.