Lululemon Founder Says Retail Will Recover After Coronavirus

According to athletic apparel company Lululemon’s founder Chip Wilson, retail has a recovery to look forward to after COVID-19.

Wilson believes that physical stores have a major role in retail in life beyond the COVID-19 pandemic.

“What’s going to happen [after the pandemic] is rents drop in half and a new model comes up. I think street retail will be as strong as ever. But because rents are half, stores will be an omni-channel in themselves. A brand store of what customers want: tactile, fit and e-commerce returns,” Wilson said on Yahoo Finance Live.

According to the founder of one of the most popular high end athletic apparel companies, consumers are going to want to congregate again when the pandemic is over after being quarantined for much of 2020.

Wilson explained, “I think people still really want to be together and really want to be close. I think we are talking what may be a year from now, I think we are going to forget all about this. I mean people in their 20s and 30s have to find each other, get married and date. They have to smell each other. Chemistry is involved. I think we are missing something, the most beautiful part of life and I don’t think digital will take over from that.”

Even with a bullish outlook for the future, Lululemon has begun to now offer curbside pick-up options of their own as a means to offset challenged physical store sales.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.