In short: One of the two private athleisure brands he names as the direct cause of Lululemon's lost share: "a lot of competitors started mimicking their product. You had Alo Yoga, you had Vuori imitating their products and making even different variations of it." Their advertising is the visual contrast he uses against Lululemon's own — "these are the two biggest competitors, direct competitors to Lululemon."
2:34Operations shifted. The management screwed up big time. A lot of competitors started mimicking their product. You had Alo Yoga, you had Vuori imitating their products and making even different variations of it. Companies like Costco sold dupes of Lululemon. And the growth started to slow down. In fact, the growth over just the past year has basically flattened out to be low inflation.
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