{"id":154124,"date":"2022-03-09T12:40:56","date_gmt":"2022-03-09T12:40:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=154124"},"modified":"2022-03-09T12:40:56","modified_gmt":"2022-03-09T12:40:56","slug":"you-can-thank-this-man-for-expensive-yoga-pants","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/you-can-thank-this-man-for-expensive-yoga-pants\/","title":{"rendered":"You can thank this man for expensive yoga pants"},"content":{"rendered":"<p><cite>New York (CNNBusiness)<\/cite>Lululemon unveiled a new product Tuesday that speaks to the upscale brand&#8217;s ambition to expand into new categories.<\/p>\n<p>The athleisure company, known for its leggings and yoga pants, introduced a running shoe for women called Blissfeel. The shoe marks Lululemon first-ever foray into footwear.<br \/>\nThe move sets <span>Lululemon Athletica<\/span> <span>(<span>LULU<\/span>)<\/span> up as the newest entrant in the fast-growing, highly competitive athletic footwear market, which saw annual sales grow 20% in 2021 over the prior year as consumers gravitated to more casual dressing during the pandemic, according to market research firm NPD.<\/p>\n<ul><\/ul>\n<p>The company said its Blissfeel shoes will be available for purchase beginning March 22 in select stores across North America, China, the United Kingdom and online.<\/p>\n<ul><\/ul>\n<p>The sneaker, priced at $148, is made with foam cushion technology and comes in 10 colors, the company said. <\/p>\n<p><img decoding=\"async\" alt=\"Lululemon launched its first-ever footwear collection. The first shoe is called Blissfeel, a running shoe for women priced at $148.\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/220308135919-01-lululemon-footwear-large-169.jpg\"><br \/>\nLululemon said the footwear is designed to focus on the unmet needs of active women.<br \/>\n&#8220;We intentionally started with women because we saw an opportunity to solve for the fact that, more often than not, performance shoes are designed for men and then adapted for women,&#8221; Sun Choe, Lululemon&#8217;s chief product officer, said in a statement. &#8220;That didn&#8217;t sit well with us.&#8221;<br \/>\nThe brand is rolling out three additional footwear options for women this year that include a cross-training shoe, a training shoe and what it&#8217;s calling a &#8220;post-workout&#8221; shoe.<br \/>\n&#8220;This is a big deal,&#8221; said NPD&#8217;s senior industry advisor and footwear analyst Matt Powell. &#8220;This is the first time a major brand is making a sneaker specifically for women. Basically what the brands sell in this space are smaller versions of men&#8217;s shoes. This is a dirty little secret of the industry. Lululemon is building a shoe from the inside out uniquely designed for women&#8217;s feet.&#8221;<br \/>\nThe company said a separate footwear line for men will debut next year.<\/p>\n<p><img decoding=\"async\" alt=\"Lululemon&amp;#39;s new footwear collection includes four shoe styles for women.\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/220308141610-03-lululemon-footwear-large-169.jpg\"><br \/>\nLululemon signaled its intention to expand into footwear in 2019, when company executives said during an analyst event that they saw &#8220;white space&#8221; in the category that they hoped to take advantage of.<br \/>\nThe move now pits Lululemon against industry leaders <span>Nike<\/span> <span>(<span>NKE<\/span>)<\/span> and Adidas as well as trendier brands such as On and Allbirds.<\/p>\n<ul><\/ul>\n<p>&#8220;On the surface, making this play in sneakers is sensible as it&#8217;s a massive market and one which naturally complements Lululemon&#8217;s other athleisure products,&#8221; said Neil Saunders, retail analyst and managing director at GlobalData Retail.<br \/>\n&#8220;That said, people are very wedded to brands like Nike, so Lulu is going to have to differentiate strongly if it wants to make an impact,&#8221; he added.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/03\/08\/business\/lululemon-footwear\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNNBusiness)Lululemon unveiled a new product<\/p>\n","protected":false},"author":3,"featured_media":154123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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