Lululemon is preparing to launch a sneaker line with help from talent associated with the biggest names in athletic apparel.
The athleisure brand was awarded a patent on October 12 for its forthcoming shoe brand, which will lean on designers who previously worked for Nike, Under Armour, and Adidas.
The company has teased a move into footwear since at least 2019. Its branded shoes are scheduled to hit stores in “early 2022” according to CEO Calvin McDonald.
- Lululemon saw huge growth in the second quarter, keeping the gains it made in online retail while seeing a major bounceback for in-person retail.
- The company posted $1.45 billion in second-quarter revenues, up 61% year-over-year and 64% from the same period in 2019.
- Lululemon aims to double its menswear revenue to $1.4 billion by 2023.
Lululemon has offered shoes from APL since 2017. A Piper-Sandler survey from April found that Lululemon was the ninth-best-rated shoe brand among teenagers, despite not producing their own sneakers. Nike, Adidas, and Under Armour took the top three spots.
McDonald said in a December 2020 earnings call that the collaboration with APL showed strong potential for the company’s self-branded footwear sales.
