From CNBC:

Canadian sportswear giant Lululemon is stepping into the men’s footwear market with the launch of its first casual sneaker, “cityverse,” and two new running shoe models. The move is part of a larger strategy to double its men’s business and grow revenue to $12.5 billion by 2026. The company is also focusing on innovation and a strong brand name to stand out in the increasingly competitive athletic apparel space.

The new casual sneaker, “cityverse,” along with two running shoe models, will be available for both men and women beginning in February and continuing through March and May. Lululemon aims to distinguish itself from competitors like Nike and Adidas through innovation and proprietary technologies across its assortment of footwear models. The company’s CEO, Calvin McDonald, highlighted the potential for growth in the men’s category, with low brand awareness figures showing room for expansion. Despite its focus on expanding into men’s footwear, Lululemon maintains that apparel will remain the “juggernaut” and “core” of its overall business. As the company’s growth rate slows compared to previous years, some analysts are expecting its performance to moderate further as demand across the sector slows, prompting a downgrade by HSBC from a previous buy rating to hold. Lululemon reported a 19% jump in sales in the three months ended in October, down from a 28% spike in the year-ago quarter. Aiming to differentiate itself from competitors, Lululemon is focusing on offering innovative design and proprietary technologies across its footwear assortment. The company’s entrance into men’s footwear aligns with its larger strategy to double its men’s business and grow revenue to $12.5 billion by 2026. Despite the slowdown in its growth rate, Lululemon remains a best-in-class retailer, according to most of Wall Street.



Read more: Lululemon to launch first men’s footwear line