While some people on Earth still consider a $100 pair of leggings overpriced, that population is steadily dwindling.
In fact, over the past four quarters Lululemon (LULU) has beaten Wall Street expectations handily; its revenue is up more than 30% year-over-year. So popular is Lululemon, in fact, that many companies go out of their way to either replicate its "science of feel" buttery-soft fabric technology or outright duplicate it.
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In 2021, Lululemon moved to file a lawsuit against Peloton (PTON) in Los Angeles federal court, seeking triple damages for Peloton's alleged infringement of six design patents. The two later "negotiated a mutually agreeable settlement," according to a Peloton spokesperson, and the at-home-fitness company eliminated several of the items in question.
Lululemon Moves to Solve Dupe Problem
And while Lululemon has its fair share of other problems at the moment, it's generating some good buzz following the announcement of the Align Legging Dupe Swap -- a limited-time event aimed at getting dupes off the street.
According to its Eventbrite page, Lululemon will offer people who have Lululemon dupes -- leggings designed to look and feel just like its popular Align-style pants -- with genuine Align leggings, free of charge.
"Join us at the Align Legging Dupe Swap, where we invite you to swap out one pair of your old leggings for a brand-new pair of ours, at no cost to you," the page reads.
"That’s right. All you have to do is show up, feel the difference for yourself, and trade in your old dupes. It's first come, first served, so get there quick while supplies last."
The event is set for Saturday, May 6, 2023, at the Century City Mall in Los Angeles, right outside the Lululemon store. The program lasts only as long as supplies do.
And as with most such marketing efforts, there's a small criterion: Customers must sign up for a Lululemon account, which it calls a "membership."
"Leggings must be non-Lululemon, no returns or exchanges and a limit of one per guest. To participate in the event you must swap out your dupes and you will be asked to sign up for lululemon membership," the site says.
Lululemon membership, rolled out in late 2022, is free to join and collects a shopper's email address and other personal information (like your shipping address and sizing recommendations).
It gives shoppers early access to new products and promotions and free hemming services, and it enables them to exchange sale items or receive in-store credit, which wasn't previously a part of company policy.
