This Is the Last Thing Lululemon Needs to Turn Its Business Around

This Is the Last Thing Lululemon Needs to Turn Its Business Around

Does the footwear market really need another sneaker company? Lululemon Athletica (NASDAQ: LULU) thinks so and recently began offering three new styles of footwear at 23 of its stores with plans to roll them out to more in the future. While the market for sneakers is growing, it remains overcrowded and adding another one to the mix doesn't bode well for success.

Lululemon created something from nothing when it essentially started the athleisure trend that has since become a $44 billion industry in its own right and is expected to hit $83 billion by 2020, but like the footwear business, it now features a burgeoning number of participants.

Image source: Lululemon Athletica.

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Source: Fool.com