Lululemon has staged an entry into footwear, CNBC reports.
The maker of leggings and sports bras ventured into the new product category, deepening its rivalry with giants like Nike and Adidas.
The company’s first-ever running shoe for women, called Blissfeel, will be available to purchase starting March 22 in select markets across North America, Mainland China and the United Kingdom.
Blissfeel will retail for $148, according to CNBC.
The launch marks Lululemon’s official foray into the sneaker category, having only previously sold a small collection of shoes from Athletic Propulsion Labs.
Lulemon is venturing into an incredibly heated category with competitors ranging from giants like Nike and On Running to more niche brands like Allbirds, which also makes a running shoe.
Lululemon is aiming to launch a men’s footwear collection next year, at which point it will expand its selection for women with special-edition shoes and seasonal sneakers.
In the meantime, Lululemon will debut two types of women’s cross-training sneakers this summer, priced at $138 and $148, followed by a slide-on shoe meant for post-workout wear, at $58, and another training sneaker with a more supportive midsole, at $128.
Lululemon will begin this year by launching a running shoe and other options for women, followed by a men’s footwear collection in 2023.
Lululemon’s sales for the 12 months ended Jan. 31, 2021 grew to $4.4 billion from $3.98 billion a year earlier. Its stock is down more than 20% year to date.
