Lululemon to exit its kids’ business
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Lululemon will close its remaining Ivivva kids stores as it focuses its efforts on its expanding core and men’s businesses.
The news was reported by CNBC, which said that the retailer will close the remaining seven freestanding Ivivva stores by the middle of next year. It began scaling back the business and closing stores in 2017.
“We’ve made the decision to close what remains of the Ivivva business in order to unlock capacity to support our long-term growth,” Celeste Burgoyne, executive VP of Americas and global guest innovation for Lululemon, said in a statement emailed to CNBC. “We have forged strong relationships with an engaged community of active girls and we look forward to connecting with them through the Lululemon brand.”
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