An entrepreneurial company is must have a pool of resources and a market.  It contrasts with small businesses in its openness to risk in order to take advantage of opportunities, coupled with innovation in its products, services, or processes in delivering the good.  This results in wealth creation of greater amounts and in shorter times.

A very successful case of entrepreneurship is Lululemon. Founded in Vancouver in 1998, the brand is now sold in over 140 stores in Canada, USA, and Australia.  Its rapid expansion allowed the company to go public in 2007, and they have continued to do well since their IPO.

Just over a decade ago, founder Dennis Wilson responded to the increasing participation of females in sports, and used technology – their uniquely comfy, stretch fabric – to develop a new line of products for this specified target market of urban women.  Yoga clothes became a daily apparel and style, and the company gradually expanded its product line to accommodate this new hype.

To consumers, the product that comes before the brand, and that is the root of Lululemon’s success.  Through innovation, Lululemon opened up a very niche market and changed the concept of athletic clothing.

References:
–Lululemon official website
–Globe and Mail: Eight fun facts about Lululemon