Lululemon Signs Top Hockey Prospect Connor Bedard, Can It Help With Push Into Men's Apparel?
Portfolio Pulse from Chris Katje
Lululemon Athletica (NASDAQ:LULU) has signed top NHL prospect Connor Bedard as a brand ambassador, as part of its strategy to grow its men's apparel business. The financial terms of the partnership have not been disclosed. Lululemon will be the exclusive apparel partner of Bedard, who will wear the company's training and lifestyle gear and provide feedback. The campaign is expected to be driven by social media, rather than television commercials.
June 28, 2023 | 6:19 pm
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NEUTRAL IMPACT
Adidas, like other apparel companies, has spent millions on endorsements of top athletes to help market their brands and products.
The news doesn't directly impact Adidas, but it highlights the competitive landscape of athlete endorsements in the apparel industry.
CONFIDENCE 80
IMPORTANCE 25
RELEVANCE 25
NEUTRAL IMPACT
The NHL Draft, where Connor Bedard is expected to be taken first overall, will air on ESPN, a unit of The Walt Disney Company.
While the NHL Draft airing on ESPN could increase viewership for the network, it's unclear how much this specific event will impact Disney's overall performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Nike, like other apparel companies, has spent millions on endorsements of top athletes to help market their brands and products.
The news doesn't directly impact Nike, but it highlights the competitive landscape of athlete endorsements in the apparel industry.
CONFIDENCE 80
IMPORTANCE 25
RELEVANCE 25
NEUTRAL IMPACT
Under Armour, like other apparel companies, has spent millions on endorsements of top athletes to help market their brands and products.
The news doesn't directly impact Under Armour, but it highlights the competitive landscape of athlete endorsements in the apparel industry.
CONFIDENCE 80
IMPORTANCE 25
RELEVANCE 25
POSITIVE IMPACT
Lululemon's partnership with Connor Bedard could boost its men's apparel line and increase its brand visibility.
The partnership with a top NHL prospect could help Lululemon increase its visibility and appeal in the men's apparel market, potentially driving sales and revenue growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100