Canada’s Lululemon Athletica (LULU) has launched a new line of men’s sneakers as it seeks to gain market share in the male sportswear segment.
The men’s footwear includes two running shoes and a casual sneaker. Lululemon said it will release the shoes this spring, with the casual sneaker hitting stores on Feb. 13.
While Lululemon remains a strong player in women’s athleticwear with its yoga pants and other workout clothes, it has struggled to reach male consumers.
Brand awareness among men was only at 13%, the company said in its last earnings call, and growth in menswear sales has trailed the women’s business in the last three quarters.
Lululemon first entered the footwear space two years ago with a line of women’s sneakers.
The stock of Lululemon Athletica has risen 43% in the last 12 months and currently trades at $461.94 U.S. per share.
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