What is Lulus? Lulus Review

Basic Introduction

Lulus was founded in 1996. Colleen Winter, the founder of Lulus, and her mother initially opened a family-run women's clothing store. In 2008, they switched to an online retailer, selling women's clothing, shoes and accessories, and providing delivery services to 68 countries around the world. The average age of the core consumer group is 27-year-old white-collar women in big cities.

Operational Model

20% of Lulus' products are made in the United States, and the rest are imported. In terms of channels, it is mainly its own official website, and it also distributes products in offline clothing retailer Nordstrom. Among the products sold on the official website, 85% are its own brands, and the rest are brands with similar styles such as "Free People".

The promotion is also done online, mainly by posting videos or graphic ads on social media and finding KOLs to promote the brand. The official Instagram account has 1.3 million followers. In terms of price, since it targets young women, Lulus' clothing ranges from US$16 to US$300, and the overall style is somewhat similar to the well-known ZARA.

Core users

The average age of Lulus' core customers is 27 years old. They mainly live in densely populated areas. They go to offices during the day and often attend social activities at night.

Vision

LuLus' original vision was to provide customers with the latest fashion merchandise, excellent value, unparalleled customer service and merchandise quality.

Financing

In 2004, Lulus completed an early financing round led by HIG Growth Partners (“HIG”), which remains an investor in Lulus today.

In May 2018, Lulus, an American online women's clothing brand, announced that it had received $120 million in financing from IVP Venture Capital and the Canada Pension Plan Investment Board. Lulus is currently preparing for an IPO, but it will not be put on the agenda in the short term. After this round of financing, Lulus will use the new funds in two important aspects: opening a second factory on the East Coast of Ohio to achieve fast delivery. The company's goal is to deliver all orders within two days; expanding other categories, including: leather shoes, jackets and denim series.

References

• 1. American Internet fashion brand Lulus completes $120 million in late-stage financing: Pinlue [cited on 2018-05-17T16:00:00.000Z]
• 2. American Internet fashion brand Lulus completes $120 million financing: morningwhistle [cited on 2018-12-29T16:00:00.000Z]
• 3. LuLus official website introduction: website library [reference date 2019-12-03T16:00:00.000Z]
• 4. Lulus received $120 million in financing. Can it successfully break through the homogeneous competition? : Sohu [cited on 2018-05-16T16:00:00.000Z]