Rapid Response: Stay versatile, w/Lululemon Athletica CEO Calvin McDonald
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 26 January 2023
⏱️ 31 minutes
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Summary
While many retail businesses have struggled to cope with a wave of disruptions — from pandemic to supply chains to inflation — Lululemon has continued to scale, even when retail sales elsewhere dipped. CEO Calvin McDonald shares how mid-term strategic planning, control over inventory, and a culture that climbs mountains together has fueled agility and versatility. When it comes to brand-building and community building, Calvin says, it’s critical to lean into listening, so you can amplify what makes your business truly distinctive.
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Transcript
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| 0:00.0 | Hey listeners, this is Jordan McLeod, executive producer of Masters of Scale. |
| 0:04.6 | If you've ever wished you could hear insights from Reed in real time, well then listen up. |
| 0:09.2 | We're hosting a live virtual strategy session in alliance with Capital One Business on January 26th, |
| 0:15.2 | and you're invited. During this event, you'll hear Reed and other business leaders explore |
| 0:19.4 | some of the most timely questions entrepreneurs are facing right now. |
| 0:23.7 | When you register, you'll also have a chance to submit your own question to Reed, |
| 0:27.4 | and he just might answer it live. So go to MastersofScale.com slash strategy session to register for free. |
| 0:35.5 | Again, that's MastersofScale.com slash strategy session. Now onto the show. |
| 0:45.7 | We have fun together, but we equally get out and move together. |
| 0:49.6 | And on every trip, I'm sweating with the local team. When I was in Seoul, I think I was only, |
| 0:55.7 | you know, less than a day off of the plane, and we were hiking up, you know, |
| 0:59.3 | Nam Mountain in the center of Seoul with 30 of the local store managers. |
| 1:05.3 | I learned from them a lot of what we do around the organization comes from ideas inside. |
| 1:12.5 | People wanted to put brands into pandemic winners or pandemic loser buckets, |
| 1:18.0 | and I'd always try to point to a third, which is you could be both. |
| 1:22.3 | I get that that is a unique position, but this is a unique brand with some unique differentiators. |
| 1:32.7 | That's Calvin McDonald, CEO of Lulu Lemon Athletica, the specialty athletic apparel company |
| 1:39.0 | that's grown into a $40 billion direct to consumer retail brand. |
| 1:43.8 | I'm Bob Safian, former editor of Fast Company, founder of the Flux Group, |
| 1:48.3 | and host of Masters of Scale Rapid Response. I wanted to talk to Calvin because while other |
| 1:54.0 | retailers have seen sales decline recently, Lulu Lemon continues to push ahead and grow, |
| 1:59.9 | defying the fate of many other so-called pandemic businesses. |
... |
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