Company Ruined Itself?

A successful company is defined as one who can not only earn profits while minimizing costs, but also the building of loyalty between itself and its customers. Chip Wilson, the founder of Lululemon and yoga pant billionaire, commented during an interview on Bloomberg that yoga pants were not the problem when he was asked regarding the complaints about the fabric. He openly said yoga pants ‘can not be expected to fit everyone’. He later apologizes through a video posted on YouTube, but only to his staff. This has definitely made an negative impact in developing strong customer relationships. businesses know how fragile customer relationships are and the difficulty of winning loyalty after it has been lost. From this incident, I wonder how hard it will hit the company because of a couple of unthoughtful words.

 

Sources:

http://www.cbc.ca/news/canada/british-columbia/lululemon-s-chip-wilson-apologizes-but-only-to-staff-1.2420837

http://yogadork.com/wp-content/uploads/2013/11/chip-wilson-lululemon-bloomberg2.png

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