Lee Holman, who was Senior Vice President of Women’s, has been named Executive Vice President and Creative Director, a new position where he will be responsible for both men’s and women’s product design and report to Chief Executive Laurent Potdevin. Tom Waller has been promoted to Senior Vice President of Whitespace, reporting to Potdevin. Whitespace works to drive Lululemon’s long-term innovation. Stuart Haseldon, Chief Financial Officer, is assuming wider operational responsibilities, adding Executive Vice President of Operations to his title. Tara Poseley, who joined in 2013 as Chief Product Officer, will be leaving Lululemon after a transitional period. The company has eliminated the Chief Product Officer position. They are also currently search for a candidate for the newly-created position of Chief Supply Chain Officer.
Lululemon has come under pressure due to the increasing number of brands and retailers selling athletic, athletic-inspired and yoga merchandise, especially the likes of Under Armour, which has aggressively moved into the women’s space previously dominated by Lululemon. The changes Lululemon has made to their organisational structure, including the new role of Creative Director, are part of their 10-year vision. They are committed to innovation in their functional performance. The creative director is part of their strategic initiative to further unify men’s and women’s design under a singular creative vision.
Lululemon is planning to open 15 to 20 stores in the Middle East over the next five years as part of a licensing agreement with United Arab Emirates-based Majid Al Futtaim. They are also planning to focus on major population centres, including London, Paris, Munich, Singapore, Hong Kong and Beijing. As part of their expansion plan, they need to bring greater innovation to their products based on differing climates and lifestyles.