In this project, I was working in a team of 5 to bring Lululemon to India, where the economy is booming and the yoga practice heritage is highly valued. We believe the company, with its passionate focus on athleisure wear, specifically for yoga practice, will be successful in the India’s market.
LuluLemon was founded in Vancouver, Canada by Chip Wilson who graduated from the University of Calgary. His vision was to combine the technical fabrics and design required for yoga with greater style.The company LuLuLemon was founded in 1998, as yoga-inspired, technical athletic apparel company for men and women, with the first store was opening 2000.
The vision for the company is to create a place where people could get quality products to work out in as well as great customer service, creating a hub where people could learn and discuss the physical aspects of healthy living, mindfulness and living a life of possibility. By providing people with the right tools and resources encouraging a culture of leadership, goal setting and personal responsibility Lululemon strives to empower people to reach their full potential.
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CULTURAL & SOCIAL ASPECTS OF INDIA
India is located in South Asia and is the 7th largest country in the world with 3,287,263 sq km. It shares borders with Bangladesh, Nepal, Pakistan, China, Myanmar and Bhutan. The country has 29 states
Capital city: New Delhi
Largest city: Mumbai
As for the climate, India has hot wet weather from about mid-June to the end of September, cool dry weather from early October to February, hot dry weather from March to mid-June. Regional differences result from elevation and proximity to bodies of water.
There are several social institutions in India, such as the joint-family system, the caste system, the laws of succession, inheritance and property. A joint family is a form of family where the grandparents, father, mother, and children live unitedly under one roof. In such form of family system, every member:
Is expected to make some financial contribution to the common fund
Share common rights in the household property
Eat the food made at the common kitchen
Make their daily expenditure from common fund
The school system in India has 3 levels: primary, secondary, and tertiary.
The caste system in India has its origins in ancient India, and was transformed by various ruling elites in medieval, early-modern, and modern India. Today, it’s the basis of educational and job reservations in India and consists of two different concepts: varna and jati. Varna literally means color, and was a framework for grouping people into classes, whereas jati means birth. There are 4 varna’s but thousands of jati’s. India is a land of diversities. This diversity is also visible in the spheres of religion. The major religions of India are Hinduism (majority religion), Islam (largest minority religion), Sikhism, Christianity, Buddhism, Jainism, Zoroastrianism, Judaism and the Baha'í Faith.
India's artistic traditions are ancient and deeply rooted in religion. India is the birthplace of three important religions Hinduism, Buddhism, and Jainism that are clear reflections of the art forms in India. The character of Indian art is best described as plastic, organic and sculptural. India is a country of many symbolic colors. The symbolism of color stands out and controls every aspect of life in India, be it religion, politics, festivals, or celebrations.
ECONOMIC ASPECTS OF INDIA
India’s economy has been subject to considerable growth since its liberation in the early 1990s. India’s GDP growth rate has consistently been well above five percent for the last ten years. As a result of this growth, the country’s GDP was ranked the seventh largest in the world in 2015.
MARKET ANALYSIS
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 percent of the employment. India is the world’s fifth-largest global destination in the retail space. Indian Retail Industry has large potential as the second largest population with affluent middle class, rapid urbanisation and solid growth of internet. India’s retail market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10 percent. By 2018, the Indian retail sector is likely to grow at a (CAGR) of 13 per cent to reach $950 billion. India’s Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020. Online retail is expected to be at par with the physical stores in the next five years.
As Lululemon’s mission extends further than apparel into educating its customers on being healthy in all aspects of their life, the brand aims to target young professional individuals (mainly women) who are busy with their career, but also focus on maintaining a healthy lifestyle by exercising, especially practicing yoga.
For location, we believe Lululemon is best placed in Select CITYWALK, located in New Delhi. It is one of the country’s most admired shopping centers, counting with 1.3 million sq. feet; it houses an outdoor open-air plaza with beautiful outdoor landscape spaces. Popular and prestigious brands across the globe likes BMW, Lamborghini, Apple, Bvlgari, and Sony have often launched their products and events here. Select CITYWALK has continually been praised and awarded India's most admired shopping center by several organizations.
The merchandise will include:
Tops: Sports bras, tanks, short sleeves, long sleeves, sweaters, hoodies, vests, jackets and outerwear.
Bottoms: Shorts, skirts, pants, yoga pants and underwear
Accessories: Bags, socks, water bottles, mats and towels
Lululemon’s philosophy is about “elevating the world from mediocrity to greatness,” according to the brand owner, Dennis Wilson. He believes that most people are living in the mediocrity state, and that they just do an “okay job” with things. Therefore, with Lululemon, he wants to spread a positive message about being our best and doing our best, about self discovery. And the philosophy also associates well with yoga. With all the datas on social, cultural, and economic aspects of India that our team has gathered, as well as the market analysis, we believe that Lululemon will fit in well and be able to succeed in the Indian market.
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