U.S.-Iran Tensions Escalate as Strait of Hormuz Crisis Disrupts Global Oil Markets 
Organon Stock Surges After Reports of $13 Billion Buyout Bid by Sun Pharma 
USDA Plans to Expand Farmer Surveys to Improve Crop Report Accuracy 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
Why Global Web3 Projects Can't Afford to Skip South Korea: TokenPost Unveils Data-Driven Entry Solutions 
Gold Prices Rise Slightly but Head for Weekly Loss Amid Oil Surge and Inflation Fears 
European Car Sales Surge in March as EV and Hybrid Demand Accelerates 
Brazil Blocks Prediction Market Platforms, Tightens Derivatives Trading Rules 
US and EU Strengthen Critical Minerals Partnership to Reduce China Dependence 
SK Hynix Reports Record Q1 Profit Surge Driven by AI Memory Chip Demand 
Japan Inflation Rises in March Amid Energy Price Surge and Middle East Tensions 
Meta Expands AI Training With Employee Activity Tracking Tools 
Stock Futures Dip as S&P 500, Nasdaq Hit Record Highs Amid Rising U.S.-Iran Tensions 
Gold Prices Edge Higher on Weak Dollar but Face Weekly Loss Amid Oil-Driven Inflation Fears 
U.S. Sanctions Target Chinese Refinery Over Iranian Oil Purchases 
Dollar Gains as Middle East Tensions and Rising Oil Prices Support Safe-Haven Demand 
India-US Trade Talks Advance Toward $500 Billion Goal Amid Ongoing Negotiations 
Lululemon recently ventured into the shoe market with the aim of competing with frontrunners in the business - Nike and Adidas. Now the company is launching its new membership program as a strategy for gaining more loyal customers.
As Lululemon is now more than just about the workout apparel, its membership program will cover clothes, events, and fitness classes. According to CNBC, the company will introduce two tiers of memberships which are paid and free options.
The workout apparel firm wants to build a stronger base of loyal customers; thus, it designed a membership program where it will offer customers exclusive access to its future events, new products, and fitness sessions.
This move is important to Lululemon as its success will also help the company lower its cost to secure more customers. This is because the scheme creates the most immersive fitness marketplace in the business.
With the free membership at Lululemon, customers will enjoy early access to its upcoming product releases, including exclusive items. The company explained during the analyst day event on Wednesday, April 20, that they will also be given invitations to in-person community events.
For those who will choose the paid membership that costs $39 per month, which is the same rate as the subscription to Lululemon’s at-home fitness all-access subscription called Mirror. The subscribers will be included in the company’s membership without extra charge.
Paid memberships will also enjoy all of the benefits given to the free tier. The program is set to be launched in the fall.
“We want to continue to add as much value as we can in that $39 membership tier as possible,” said Lululemon’s Mirror’s chief executive officer, Michael Aragon, told the media in an interview. “It is becoming a growth engine for Lululemon overall.”
Meanwhile, Bloomberg reported it is also aiming to double its sales to $12.6 billion by 2026. In the recent analyst conference, Lululemon Athletica Inc. unveiled its five-year plan to achieve this goal which includes expanding its offerings to men.
Lululemon’s chief executive officer, Calvin McDonald, said, “We remain early in our growth journey, with our strong product engine, proven ability to create enduring guest relationships, and significant runway in core, existing, and new markets.”
