Popular athleticwear brand signs Formula 1 champion, grows male sector | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Once upon a time, nearly every girl in the U.S. dreamed of owning a pair of Lululemon leggings. However, the company’s initial success in the U.S. might have boosted its ego a bit too much since it continued to use the same strategy that had worked for many years, putting newness and innovation on the back burner in the process.

This lack of innovation caused the company to lose ground to other newer and trendier brands, especially in North America, which was once one of Lululemon’s strongest regions.

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Due to the continuous slowdowns, Lululemon developed a five-year growth plan called the Power of Three x2 in 2022. This plan aimed to double its 2021 revenues through product innovation, improved guest experience, and market expansion.

Although Lululemon was initially mainly popular among women, a strategic move implemented in its five-year plan caused the company’s audience to shift over the last few quarters, reaching an unexpected audience.

People walk past a Lululemon department store in New York City.

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Lululemon takes on strategic partnerships to grow its men’s sector

According to Lululemon’s third-quarter earnings report, total revenues in the Americas were up 2% compared to the prior year, with women’s merchandise increasing 8% and men’s up 9%.

Lululemon (LULU) attributes all the gains in its male categories to its optimization strategies in North America, which continue to be key drivers in its growth.

Over the last few months, Lululemon has focused on athlete partnerships to expand its brand awareness to new markets, especially with male consumers. It claims the results have been positive, which is reflected in the growth of its men’s merchandise.

The company has strategically signed with prominent male athletes in today’s culture to stay relevant. These partnerships include renowned names such as PGA golfers Min Woo Lee and Max Homa, ATP tennis professional Frances Tiafoe and WTA tennis professional Leylah Fernandez, NFL Wide Receiver DK Metcalf, NBA player Jordan Clarkson, and NHL player Connor Bedard.

Although Lululemon has checked off almost every type of athlete from its list of brand ambassadors, one had yet to be fulfilled—until now.

Lululemon signs Lewis Hamilton as its first global Formula 1 brand ambassador

On Monday, Lululemon announced it has signed Formula 1 World Champion Lewis Hamilton as its newest brand ambassador, making him the company’s first-ever global Formula 1 brand ambassador.

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As part of his new title, Hamilton will work closely with Lululemon’s Research and Innovation and Design and Development teams to help create new products for the athletic and lifestyle collections by providing his insights as an athlete and race car driver.

Lululemon’s Centre for Social Impact and Hamilton’s global foundation, Mission 44, will also join forces to “integrate movement and mental health experiences into their efforts to build a fairer future for young people through education, employment, and empowerment.”

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Additionally, Hamilton will participate in Lululemon’s upcoming global campaign, “No Holding Back,” which will feature the brand’s latest men’s training apparel and its Metal Vent Tech franchise.

His relentless commitment to performance, wellbeing, and impact align completely with what we stand for at Lululemon,” said Lululemon Chief Brand and Product Activation Officer Nikki Neuburger. “We’re excited to partner with Lewis to innovate, inspire, and create positive change together,” Neuburger added.