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Lululemon has endured a tough year thanks to offensive, offhand remarks made by founder Chip Wilson and quality issues with Lulu's yoga pants. But brand execs have high hopes for two new markets: men's and children's.
Reuters reports that during an industry conference, Lululemon's CFO John Currie revealed that the company was bullish on Ivivva Athletica, its teen and kid's line, which is now available in standalone stores in the US and Canada.
"You always hear the phrase that any PR is good PR. What we learned is that's not always the case. I just wanted you to hear that we're taking it seriously. Like, we get it," said Currie. To counter the slide, Lululemon will "accelerate Ivivva's growth" in 2014 and will open the first Lululemon men's store in 2016. "2013, that's a year that we're quite happy to see going behind us," he said.
· Lululemon Has A Plan To Get Girls As Young As 6 Hooked On Yoga Gear [Business Insider]
· UPDATE 1-Lululemon to polish tarnished image after "wake-up call" [Reuters]
· The Self-Help Movement Behind Lululemon's Eerie Dogma [Racked]