lululemon athletica, Inc. in 2020: How to Respond to the COVID-19 Pandemic? It is April 17, 2020,...

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Operations Management

lululemon athletica,Inc. in 2020: How to Respond to the COVID-19 Pandemic?

It is April 17, 2020, and the Board of Directors of lululemonathletica, Inc. has employed you as a crisis consultant to assessthe companyâ€™s overall situation during the COVID-19 Pandemic andrecommend a set of specific, measurable and rapid actions for thecompany to take to quickly restore the company to health andoutstanding performance. Please prepare a report to lululemonâ€™sboard of directors that makes a list of action recommendations thatthe company needs to follow into order to put the company back ontrack in Fiscal 2021.

As of April 17, 2020, the Chief Financial Officer for lululemon hasjust resigned, and is leaving the company on May 8, 2020. Further,the companyâ€™s physical stores in North America, Europe, Australia,New Zealand and Malaysia are currently closed. Writing to thecompanyâ€™s stakeholders worldwide, Chief Executive Officer CalvinMcDonald had the following to say:

The impact of Covid-19 is difficult to process as we navigate theuncertainty of the situation on a daily basis. People are the heartof lululemon, and through this period, we are committed to doingright by our teams, guests, and global communities.

Your assignment as the companyâ€™s crisis consultant is to makerecommendations to ensure the success of lululemon through thecrisis and to restore the company to physical and financialsoundness in Fiscal 2021.
Question:
Your report should be prepared as a three page ExecutiveSummary of Recommendations. Your recommendations should be specificand be clearly supported by your analysis of the companyâ€™sfinancial situation. You may supplement your 3-page summary with anappendix that contains (a) an analysis of the companyâ€™s financialstatements and/or pro-forma financial projections and (b) otherappendices that you consider appropriate. You may also include atable of References to sources that you use in your ExecutiveSummary.
Notes:
â€¢ Three pages MAXIMUMfor your Executive Summary of Recommendations. This three-pagemaximum does not include any Appendices or the Reference list.
â€¢ It is required thatyou cite your sources in your recommendations and provide areference list in your appendices.
â€¢ Please use theExecutive Summary template that is provided to make yourreport.
(Example of how todo):
CompanyName> Executive Summary
Recommendations:
1.
2.
3.
Appendix
Appendix
References:

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Answer Executive Summary Lululemon has been engaging individuals to arrive at their maximum capacity through giving the correct instruments and assets since being established in 1998 Since 1998 Lululemon have made extraordinary walks in the games attire world extending from ladies yoga jeans to mens footwear With the development of innovation in regular day to day existence Lululemon is breaking into the wellness innovation advertise Our group has chosen to create and convey a remote wellness tracker called the Luup The Luup is intended to be worn around the foot and use Bluetooth innovation to combine with all major cell phones to tally steps and track calorie maintenance yet in addition screen the pulse of the shopper The Luup varies from current items in the market through its strength and battery life The worth got from this item will be certainly justified regardless of the cost as it will incorporate the Lululemon lifetime guarantee Our objective market incorporates people between the ages of 16 and 45 who are truly dynamic With our demonstrated reputation of value and significance we hope to complete our development methodology and advance wellness in regular day to day existence Company Overview Lululemon is a notable athletic attire company Chip Wilson the author of Lululemon initially began in the surf and snowboard dress industry and held onto the second and moved into the yoga pattern at the perfect time In 1998 in Vancouver Canada Lululemon was created and characterized as a yogaroused specialized athletic attire company for ladies just as men The main structures that brought the company name into the market were made for ladies to wear during yoga November of 2000 the first independent store opened which was only the start of the development Lululemon would take on The base camp and plan and assembling offices are situated in Vancouver British Columbia inside Canada Assembling offices are additionally found somewhere else inside Canada the United States China India Israel Indonesia just as Taiwan Appropriation places for Lululemon can be found in Vancouver Canada Sumner Washington Melbourne Australia and Columbus Ohio Having accomplices situated far and wide make it conceivable to create and make lovely various items Deals are made through Lululemons own system of companypossessed retail locations just as on the web and through spring up shops Items arrive at clients through three principle channels including corporateclaimed retail locations direct to shopper deals just as discount and littler channels including establishment and a couple of different ways In mid 2005 Lululemon had extended to 15 stores inside Canada just as See Answer

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