Lululemon Athletica Inc. ceo Christine Day has announced she will resign from the Vancouver, B.C.-based retailer once it finds a replacement.
The specialty retailer of high-end yogawear, known for the high quality of its garments, seems to be reeling still from the recall in March of stretchy black pants that turned out to be transparent.
Last year, the retailer acknowledged that there were problems with dye bleeding from some of its bright garments. The two gaffes have raised questions about whether the fast-growing company could maintain its high quality standards.
It was said at the time that the pants recall could cost Lululemon up to $40 million in profits this year.
Day told analysts, “This was a personal decision of mine and, look, it’s never perfect time to leave a company that you love. I’ve had a great run at Lululemon over the past five and-a-half years and I’m really proud of what the team and I have accomplished.”
Lululemon said it was announcing Day’s departure now so that its board has time to conduct a thorough hunt for a replacement.