Lululemon一号位被“下课”，明星集体变心，谁才是幕后推手？

Core Insights - Lululemon's CEO Calvin McDonald will resign on January 31, 2024, amid a year of poor performance, with the board seeking a new CEO through a top executive search firm [2][16] - The company's stock price has halved this year, and after the announcement of the CEO change, it surged over 10% in after-hours trading, indicating market consensus on the decline of its growth narrative [2][16] Group 1: Performance Decline - Lululemon's North American market, once its most profitable, has seen a significant decline, with a 2% drop in sales in the latest quarter, marking the fifth time in six quarters that revenue growth has fallen below 10% [4][18] - The brand's core classic styles are failing to stimulate new purchases, as consumers are shifting towards cheaper brands and new competitors [5][19] - Alo Yoga has emerged as a strong competitor, attracting consumers and celebrities, further diminishing Lululemon's market presence [8][27] Group 2: Internal Challenges - Chip Wilson, Lululemon's founder, publicly criticized the management for losing the brand's "cool factor" and failing to attract creative talent, attributing the company's decline to a series of strategic errors [6][24] - Wilson noted that Lululemon has lost 50% of its market value, which was originally driven by brand influence, due to a lack of innovation and focus [7][24] Group 3: Competitive Landscape - Alo Yoga has rapidly grown, increasing its revenue fivefold in three years, reaching the $1 billion sales club, while Lululemon's market dominance is being challenged [13][30] - Alo Yoga's pricing strategy, with yoga pants priced at $120-130, is 30% higher than Lululemon's, yet it has successfully positioned itself as a luxury brand among younger consumers [28][30] - The rise of Alo Yoga and other brands has created a "perfect storm" for Lululemon, combining internal stagnation with external competitive pressures [30][31]