Lululemon offering Amazon-esque subscription to customers
A Lululemon store logo is pictured on a shop in Santa Monica, California, United States, April 12, 2016. REUTERS/Lucy Nicholson
Lululemon Athletica, the yoga-apparel specialist, is venturing deeper into the e-commerce territory with its latest gambit
The Vancouver-based company is offering a new paid membership program that comes with clothing, classes and free express shipping, à la Amazon Prime, according to a report from Bloomberg.
It’s been testing out an annual plan -- membership costs $96 -- in Canada, and will extend it to a few other markets soon. A pair of pants from the retailer generally goes for anywhere between $98 and $118.
Lululemon CEO Calvin McDonald told analysts that the fee may eventually increase based on the initial strong response.
Last week, the company reported quarterly earnings, with revenue jumping 21 percent to $747.7 million, signaling signs of continued growth heading into the vital holiday season.
Shares of the company rose more than 2 percent during afternoon trading on Tuesday to $117.84 per share.
