The fact remains that any company has to evolve on a daily, weekly, monthly and annual basis. There are far too many stories from history of companies that were at the very top of their given industry or market, but they took things too easy. They did not innovate and they did not evolve. So instead of continuing to dominate, they faded away and others replaced them. The market does not do sentimentality. If you want to remain great, you have to continue evolving. And in many ways, it is what the lululemon board of directors have been doing.
When Chip Wilson decided that it was time for him to take more of a backseat in terms of how he ran the company, there were many who were beginning to write of this athletic apparel company. They felt that even though the company had made billions in the past, they would struggle to really perform in the same way now that Wilson was not the genius who was running things from the very top. But what they did not realize is that he had assembled a very competent group of executives and board members who would carry on his great work.
So what they have done is really made sure that everything is as innovative and clever within the company as possible. And this does not only relate to their products and the items they are putting on sale, but on the customer service they offer, the way customers can buy these items, and how they can streamline their inventory. All of these things in isolation do not seem like a huge deal, but when you put them together, you have the impression of a company that is working as hard as possible to ensure that they are still going to remain the top dog in the coming years.