Athleisure retailer Lululemon Athletica Inc. (Vancouver) closed its standalone men’s stores in New York City and Toronto despite the company’s intentions to double its menswear business by 2023, according to Bloomberg.
The company determined its customers prefer Lululemon to be “a dual-gender brand,” spokeswoman Erin Hankinson said. “We continually test and learn at Lululemon — which is what we did with the men’s stores.
Despite the closures, Lululemon said this spring it intends to more than double its revenues in menswear in the next five years. In the first quarter, the retailer’s sales for men’s apparel grew 26 percent from last year.