Lululemon to close down Ivivva childrenswear line
Lululemon is pulling the plug on its kids business Ivivva, which will include the closing of its seven remaining store locations.
“We’ve made the decision to close what remains of the ivivva business in order to unlock capacity to support our long-term growth,” Celeste Burgoyne, executive vice president of Americas and global guest innovation for Lululemon, told CNBC.
“We have forged strong relationships with an engaged community of active girls and we look forward to connecting with them through the lululemon brand.”
Lululemon has in fact been winding down its Ivivva kids business since 2017, when the Canadian retailer first announced plans to close 40 of its 55 Ivivva-branded stores. Now, Ivivva's online and retail presence will shutter by the middle of 2020.
It currently operates three stores in Canada and four in the U.S., one being at the Mall of America, as well as eight shop-in-shops inside Lululemon stores where Ivivva merchandise will be pulled.
The brand, first launched in 2009, offers apparel like leggings and tank tops for young girls. Lululemon said “a small number of employees working at the company’s headquarters” will be affected by the closures.
The move follows Lululemon’s new five-year growth strategy announced in April, which includes plans to double men’s and digital revenues, and to quadruple international revenues by 2023.
In its most recent earnings update announced earlier this month, Lululemon reported better-than-expected second-quarter revenue with the company’s direct-to-consumer revenue, which includes its online and mobile sales, increasing 30 percent and its men’s wear segment jumping 27 percent, in the quarter.
This summer, it also opened its first experiential store in Chicago, supporting its range of athleticwear, with additional space for community events, fitness classes, food and more.
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