After a mortifying revelation that some of their yoga pants might be kind of see-thru, Lululemon has started to get the offending leggings back on to store shelves across America, bringing a brief national nightmare to an end. According to the bigshot analysts in New York, the company's transparency did little to hurt the brand's image.
The pants problem cost the company somewhere from $57 million to $67 million in lost revenue, New York Daily News reports. The company even hired university researchers to develop a "sheer-o-metre" to gauge how much light was filtering through stretchy fabric.
Despite the lost revenue, the company's stock price actually bounced back up after a quick downward-facing trend when the news broke in March. Shares of Lululemon are currently up 18 percent ever since the offending legwear was ripped off the shelves.
According to recent research, consumers were pleased with the opacity of the new pairs of pants made from the company's proprietary Luon material. (The new pants have more material across the butt, basically.) And the recall may have been a little overblown: apparently most customers can't tell the difference between different types of black stretchy pants anyway and were happy to substitute other products in the meantime. Still, the company expects to have strong sales this summer now that everyone has been rationing their yoga pant use for the past two and a half months.
Previously: Consumer Alert! Lululemon Admits Some Of Their Yoga Pants Are Kind Of See-Thru
[NYDaily]
[MarketWatch]
[Lululemon Blog]
[Yahoo Finance]