11
Jul

Lululemon, BlackBerry on list of brands ‘that will disappear in 2015’

CTV News reports, “Once hailed as Canada’s business success stories, two major companies are now  on the verge of seeing their brands disappear, according to a U.S. website.

Sheer pants scandal affects Lululemon stock price

Lululemon and BlackBerry have made 24/7 Wall St.’s list of “10 brands that  will disappear in 2015.”

24/7 Wall St., a financial news and opinion website, publishes an annual list  of brands it predicts will vanish the following year, whether that’s because of  poor performance or mergers and acquisitions.

It cites high-profile controversies and management changes at  Lululemon among the reasons behind the company’s reversal of fortune.

In March 2013, Lululemon was forced to pull a style of its yoga pants from  shelves after customers complained that the fabric was too sheer. Months later,  company founder Chip Wilson said in a TV interview that some women’s bodies  “just actually don’t work” for Lululemon pants, prompting outrage.

Wilson apologized, but later announced he would be stepping down. Last  summer, Lululemon CEO Christine Day also announced her departure.

Lululemon has since been dealing with declining sales and stock prices.

As for BlackBerry, 24/7 Wall St. says the smartphone pioneer is “about to  run out of its nine lives.”

After a long list of painfully documented missteps by the company, which  allowed competitors Apple and Android to overtake the market, BlackBerry’s  revenue has “continued its multiyear slide,” 24/7 Wall St. notes.

This year’s list of disappearing brands also includes Facebook game provider  Zynga, Alaska Air, Time Warner Cable and clothing company Aeropostale.”

 

 

 

Source: CTV News

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