Sephora (EPA: MC) CEO Calvin McDonald will step in to take Laurent Potdevin's place as the CEO of Lululemon
McDonald, who is 46 years old, has been the president and CEO of the Americas for Sephora, which is owned by LVMH Louis Vuitton, since 2013. Under him, the company has experienced sales growth, expanded its products, and created new online and in-store customer experiences. Previously, he also served as CEO of Sears Canada
While Potdevin's departure didn't put a dent in Lululemon's growth, the company is still struggling to put various brand-image problems to rest. Lululemon is hoping that with McDonald, the company can prove to customers that it is not only a female-focused brand, but that it also respects the female customers that it caters to. Although Sephora and Lululemon operate in quite different categories, both beauty and Lululemon's athleisure products are currently booming markets with huge potential. Their customer base and various market trends also overlap. McDonald is known for his expertise in retail and innovative store designs and positive company culture where employees are respected is something that Lululemon is really hoping to take example from going forward.
Lululemon is not the only retailer battling brand image problems. Nike
- https://www.wsj.com/articles/lululemon-says-ceo-laurent-potdevin-has-resigned-effective-immediately-1517864962?mod=article_inline
- https://www.wsj.com/articles/lululemon-names-sephora-executive-as-new-ceo-1532468408?mod=hp_lista_pos4
- https://www.retaildive.com/news/lululemon-steals-sephora-exec-for-new-ceo/528585/
- https://www.chainstoreage.com/c-suite-1/sephoras-top-u-s-exec-to-head-up-lululemon/