We need to talk about the fact that finance industry fan favorite Brooks Brothers is selling a cashmere track suit for women.
On sale for $179.20 (zip-up) and $119.20 (pants), the offering begs the question of who among the Brooks Brothers clientele would feel the desire to purchase cashmere athleisure separates (besides the author). When the athletic trend has gone so far as to entrench itself in a notoriously conservative brand, athleisure has probably plateaued or is already on the decline.
Case in point, this week many on Wall Street have been talking about Lululemon's (LULU) not thrilling outlook. Shares of the yoga apparel maker were ripped to shreds by 23% last Thursday, which sent ripples across the athletic apparel industry.
Canaccord recently surveyed women who bought Lululemon pants in the last year to determine their plans for the next 12 months. What they found didn't bode well for the Lululemon brand or athleisure more broadly, including half of the respondents admitting they wear the yoga pants for fashion versus function.
Lululemon anticipates doubling sales of its women's and men's businesses within three years to about $3 billion and $1 billion, respectively. But in the meantime, they need to take into stock that yoga and athleisure pants may no longer be the look du jour, causing risks to sales and profits.