Lululemon names new chief merchandising officer
Lululemon has appointed Elizabeth Binder as chief merchandising officer, a new position at the Canadian athleticwear company.
Binder will lead the development and execution of the company’s global merchandising strategy, and will drive the commercialization of the brand’s vision and develop and execute a merchandising plan. She will report to Sun Choe, Lululemon’s chief product officer.
The retail executive joins Lululemon from Boden, a UK-based global apparel company, where she held the role of chief product officer. Before Boden, Binder spent twelve years at Burberry, driving digital and international expansion, specifically in Asia. She also held positions in merchandising at J. Crew, Club Monaco and Ann Taylor.
"Throughout her career, Liz has proven her ability to bring teams together through times of immense acceleration and business expansion and lead with clarity and vision,” said Choe. “Liz’s proven leadership coupled with an astute understanding of consumer needs will help accelerate and scale all that is possible from a product, design and distribution standpoint.”
In its most recent trading update in early January, Lululemon forecast a decline in holiday-quarter gross margins, as the apparel maker discounts more and grapples with higher costs.
The company, however, raised its fourth-quarter net revenue forecast to between $2.66 billion and $2.70 billion, from its previous range of $2.61 billion to $2.66 billion.
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