Nike could be about to hit Lululemon where of which hurts.
The Oregon-based sporting goods company will be reportedly preparing to open “pant studios” in 5,000 of its stores, Bloomberg reported Thursday, after reviewing supplemental documents handed out at Nike’s investor day.
The studios could feature women’s wear like sports bras as well as yoga pants — items Trevor Edwards, president of the Nike brand, highlighted during his presentation to investors as well as analysts. The spaces are slated to open on Nov. 1, right ahead of the holidays.
“This kind of $7 billion business will continue to be fueled by more women engaging in sport, wellness as well as activity,” Edwards said Wednesday about Nike’s ambitions. “Our growth in our women’s business will be outpacing our men’s business, as well as of which will continue to do so.”
Shares of Lululemon fell about 2 percent Thursday afternoon on the news, as well as were last down around 1 percent.
Representatives via Nike as well as Lululemon both didn’t immediately respond to CNBC’s request for comment.
This kind of isn’t once Lululemon has taken a hit via competitors lately.
Just earlier This kind of month, of which was reported of which Amazon will be getting into sportswear as well as plans to create its own private-label lines. The e-commerce giant has reportedly teamed up with companies of which manufacture clothes for Nike, Lululemon as well as Under Armour.
Vancouver-based Lululemon has 421 stores open today throughout the U.S. as well as Canada.
In June, the athletic apparel maker known for its yoga pants unveiled plans to close most of its unprofitable Ivivva girls stores, as well as to focus investments online instead. On its latest quarterly earnings conference call, Lululemon management discussed plans to lure more male shoppers to the brand.
Lululemon competes in a “very different playground” than Amazon, Chief Executive Laurent Potdevin told CNBC in September.