Lululemon Athletica Inc. Strategic Planning: A Comprehensive Report

This report provides a comprehensive analysis of Lululemon Athletica Inc.'s strategic planning. It begins with an introduction to strategic planning and its importance in achieving organizational objectives. The report then offers an overview of Lululemon, including its history, vision, mission, and core values. It identifies key competitors and details Lululemon's competitive advantages, such as product quality and brand loyalty. The report includes a SWOT analysis, outlining the company's strengths, weaknesses, opportunities, and threats. Finally, it describes the implementation stages of Lululemon's strategy, covering brand image creation, product design, retail store placement, marketing, employee training, and the grand opening. The report references several sources to support its analysis.

LULULEMON ATHLETICA INC.
(LULU.O)
Strategic Planning

INTRODUCTION
 Strategic planning based on achieving
organizational objectives focusing on
integrating various business departments is
what it does by constructing business
strategies, executing them and analysing
their impact.
 To build an internal, long-term business to
guide managing with decision making its
important to make a strategic plan (Deeb,
2018).

ABOUT LULULEMON ATHLETICA
 Lululemon Athletica is a global community
was initiated in Vancouver, Canada in 1998
by Chip Wilson and is a technical athletic
clothing company for yoga, running, training
and more sweaty sports.
 The strategy of the company was to price its
products at a premium and this strategy
helped the company to establish an
opportunity in the clothing industry and a
smooth ride for the retailer (The Globe And
Mail, 2018).

STRATEGIC PLANNING
 Vision
The company’s vision was to design not only a store but
more than that, a place where individuals put up speed
to sweat in. A community centre where individuals keep
learning and discussing the physical features of healthy
living, knowledge and living a life of probability and
make real relations with the customers and their choices
(Fiona, 2017).
 Mission and Core Values
Managers take actions to increase the company’s
performance for the competitive advantage and provide
people elements to live a longer, healthier and fun life by
a set of core values which are quality products,
trustworthiness work balance, trained employees and
their self-responsibility (LoGiudice, 2016).

CONTINUE…
 Competitors and Competitive Advantage
Lululemon main challengers are Nike, Adidas and Under
Armour and others like The Gap, L Brands and more
(Bary, 2017). Competitive Advantage includes
regulation, quality, revolution and responsiveness to
customers. They also own monogram registrations of its
products and fabrics.
 Objectives
The company’s position in the industry among its
competitors and present and future goals describe the
objectives to achieve which are to open new stores to
attract new customers, products innovation, brand
image, positive growth and profitability, sales increment,
efficient and experienced workforce in the company.

SWOT ANALYSIS
 Strengths
Lululemon strengths are a tough existence, company
action, style, relief, high quality, revolution,
customer loyalty, and strong investment.
 Weakness
This includes a unreasonable price, target market,
less retail stores, and surplus statement.
 Opportunities
Opportunities the company have are a product and
ground enlargement and new market portions.
 Threats
The threats include competitive market and market
size (Quiroz, 2018).

IMPLEMENTATION
 Lululemon uses stages to implement a strategy and those stages
are:
 Firstly, they create a brand image, logo and slogan for product
identification which unite the company’s mission and vision.
 They will recruit a new team of designers to connect with the
existing design team to create different luxury yoga clothes as a
high brand name.
 Area for retail stores to sell where high-income homes are located.
 A presentation of products stores layout by putting together a
team of interior designers.
 To form a marketing team for the brand to be recognize by elite
groups.
 Hiring and training employees to assist the customers is one of the
utmost important stages.
 And the last stage is to implement it after the successful
establishment of products, stores, marketing and workforce with a
grand opening.

REFERENCES
 Bary, E., 2017. Lululemon’s Key Advantage Over Under Armour and Others. [Online]
Available at: https://www.barrons.com/articles/lululemons-key-advantage-over-under-
armour-and-others-1504626513
[Accessed 8 July 2019].
 Deeb, G., 2018. The Top 6 Steps Of Strategic Planning. [Online]
Available at: https://www.forbes.com/sites/georgedeeb/2018/12/04/the-top-6-steps-of-
strategic-planning/#508a6afb35b2
[Accessed 8 July 2019].
 Fiona, 2017. What I have discovered about lululemon. [Online]
Available at: https://www.fionaoutdoors.co.uk/2017/02/what-i-have-discovered-about-
lululemon.html
[Accessed 8 July 2019].
 LoGiudice, A., 2016. Lululemon Has Optimized And Revolutionized The Idea Of Mission
Statements. [Online]
Available at: https://www.theodysseyonline.com/lululemon-optimized-revolutionized-idea-
mission-statements
[Accessed 8 July 2019].
 Quiroz, M. A., 2018. A Growth Strategy for Lululemon 2018. [Online]
Available at: https://medium.com/@michaelangelo_q/a-growth-strategy-for-lululemon-
68819680e511
[Accessed 8 July 2019].
 The Globe And Mail, 2018. Seven fun facts about Lululemon. [Online]
Available at:
https://www.theglobeandmail.com/report-on-business/industry-news/marketing/seven-fun-
facts-about-lululemon/article640602/
[Accessed 8 July 2019].