Lulus is launching its first major national out-of-home campaign, including billboards and posters in major cities like New York City, Los Angeles, Chicago, and Nashville. It plans to organize in-person brunches in four cities this summer for influencers and shoppers.
The company is focusing on large-scale advertising efforts to grow a national audience and combat declining sales after re-establishing its presence offline with the opening of a retail store and a bridal boutique in California.
Lulus, known for affordable luxury fashion with apparel under $100, emphasizes its own branded products, which account for 90% of its sales. The company also carries popular brands like Betsey Johnson and Free People.
Despite a record net revenue in 2022, Lulus faced a 19% decrease in net revenue for fiscal 2023, prompting strategic changes including a new marketing campaign. The company's market value decreased significantly from its original valuation.
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