For years, Lululemon set the gold standard for athleisure, combining premium prices with cult-like loyalty and remarkable profitability. But the brand’s grip is slipping. As American sales stall, fashion swings toward looser silhouettes, and rivals capture younger tastes, Lululemon is struggling to redefine what it stands for. In this episode, we explore how failed bets on footwear and logo-heavy designs left the company with excess stock, why discounting threatens its carefully built aura, and how inflation, tariffs, and copycat brands are squeezing margins. The story traces how a label once synonymous with effortless cool is confronting a harsher question: what happens when premium identity collides with a market that has moved on?

https://www.economist.com/business/2025/09/04/how-lululemon-fell-out-of-fashion