J. Crew has been known for its conventionally preppy clothes and its basics. The company lately has been criticized for not offering solid classic attire and is wandering from its core customers.
Lululemon Athletica, a yogawear manufacturer, had been looking into expansion as it sees the overseas market to have a promising growth, said a Reuters report.
Lululemon Althletica Inc. announced the reduction of its annual profit forecast after the delays in getting new apparel limited its sales.
Women's boutique retailer Francesca's Holdings Corp. has ousted Lululemon as the most attractive company to date to land private equity bids.
Lululemon was sued for fraud over sheer yoga pants and its CEO sudden resigned.
Dennis Wilson, the Chairman of Lululemon Athletic is planning to offer 3.4 million shares of the company, reducing his control over the yogawear retailer by 3% as a result.
Analysts describe Lululemon's plans for the company next to impossible, citing its running out of land and consistent losing against Nike and Gap.
Lululemon Athletica Inc. Chairman, Dennis Wilson sold his stock for US$49.5 million days before the announced surprise departure of the company's CEO Christine Day.
Lululemon Chief Executive Officer Christine Day is said to depart from the retail company after recent departure of the firm's chief product officer.