Yoga pants recall: Celeb-friendly Lululemon's see-through bottoms send stock plummeting
Lululemon Athletica, a Vancouver-based sportswear company, is recalling a large portion of its new style of yoga pants that customers discovered to be see-through. In a statement to investors, the company says, "The ingredients, weight and longevity qualities of the pants remain the same but the coverage does not, resulting in a level of sheerness in some of our women's black Luon bottoms that falls short of our very high standards."
From Kelly Ripa to Reese Witherspoon and Gisele Bundchen, Lulu has a host of celebrity fans who have helped catapult the brand to a position of power that allows them to charge $100 for a pair of yoga pants. And their quickly changing inventory encourages a rabid fan base who rush to stores for the latest colors and style, and shop eBay when their local stores sell out. The Luon fabric is trademarked by Lululemon, and is famous for making booties look better. But while the pants are meant to showcase the wearer's best assets, they're certainly not meant to put behinds on full display.
This recall creates a shortage in the black Luon pant, some irritated loyal customers, and worst of all, a plummeting stock price. Lulu's quality control has come under fire over the past two years by faithful followers who dedicate entire blogs to the brand. Now Reuters reports in light of the latest news, shares in the company dropped 2.8 percent Tuesday (March 19).
"We expect this issue will have a significant impact on our financial results," Lulu said in its release to investors. Looks like their expectations were right on the money.
Photo/Video credit: Lululemon
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