Lululemon admits it has work to do on ‘low’ brand awareness
The premium athleticwear label has been investing in brand building to boost awareness and customer acquisition, as it eyes improvements to its speed-to-market.
Lululemon is ramping up its investment in marketing and brand building to tackle its brand awareness problem, which the company says remains “very low” in every country except its home market of Canada.
Speaking during its Q1 2024 earnings call (5 June), CEO Calvin McDonald revealed unaided brand awareness currently sits in the “low-30s”, which the brand is working hard to shift.
“Investments in marketing and brand building [are] aimed at increasing our awareness in acquiring new guests, international growth and market expansion, and technology infrastructure and data analytics capabilities,” McDonald said, adding that activations across its grassroots and global platforms are key to accelerating that growth.
