<h3>深度简报：</h3>
<ul>
<li>就在露露乐蒙宣布首席执行官 Calvin McDonald 将辞职的几天后，Elliott Investment Management 已收购该公司超过 10 亿美元的股份，并推动前拉尔夫·劳伦高管 Jane Nielsen 成为该运动服品牌的首席执行官，消息人士透露。</li>
<li>Nielsen 曾担任拉尔夫·劳伦的首席运营官和首席财务官多年，并短暂担任过临时首席执行官，同时也有担任 Coach 首席财务官的经验。根据她的 LinkedIn 资料，她目前是 Mondelēz International 的董事会成员。</li>
<li>露露乐蒙尚未立即回应置评请求。首席财务官 Meghan Frank 表示，当 McDonald 离职时，她将共同领导零售商，并上周表示零售商正在寻找具有增长和转型经验的下一任首席执行官。</li>
</ul>
<h3>深度洞察：</h3>
<p>露露乐蒙的首席执行官继任计划引起了多个观察者的关注。</p>
<p>创始人 Chip Wilson 上周指出，有 “几位合格的首席执行官候选人”，他认为他们可以延续品牌的遗产，尽管他没有具体提名。Wilson 还敦促零售商在首席执行官搜索开始时咨询对品牌有深刻了解的人士。</p>
<p>现在，投资公司 Elliott 也想发表意见。该公司认为 Nielsen 作为强有力战略家的经验将帮助她振兴露露乐蒙品牌，消息人士还指出，在 Nielsen 的领导下，拉尔夫·劳伦的股价、毛利率和每股收益均显著增长。</p>
<p>分析师们普遍同意。Needham 的分析师 Tom Nikic 在周四的电子邮件评论中表示，Nielsen 将是 “一个极其强大的候选人”，称她是 “行业内最受尊敬和有能力的高管之一。” 分析师们指出她在拉尔夫·劳伦和 Coach 的成功转型中取得了 “巨大的成功”，尽管他们指出露露乐蒙面临的问题与这两个品牌不同。</p>
<p>“Coach 和 RL 都因向下游分销（折扣店、闪购网站、低价等）的激进推进而受到影响，这抑制了利润率并稀释了品牌形象，” Nikic 说，并补充道露露乐蒙的问题源于产品失误和竞争加剧。“她的转型经验与露露乐蒙当前的问题并不完全契合，但从积极的一面来看，我们认为 Coach 和 RL 面临的问题根源更深于露露乐蒙目前所面临的。”</p>
<p>Jefferies 的分析师在周三回应了 Elliott 的努力，表示 “更新的董事会、具有真正领导力的深思熟虑的首席执行官，以及回归露露乐蒙的根基至关重要。” 由 Randal Konik 领导的分析师们概述了露露乐蒙成功转型的关键，包括重新优先考虑美国市场、合理化品牌的门店布局、削减外套等非核心类别、重建创新管道以及恢复品牌的瑜伽基因。</p>
<p>“减少为了新颖而追求新颖的做法，” Jefferies 写道。“停止在门店中充斥不协调的颜色、图案和重标志设计，这些都会稀释品牌价值。”</p>
<p>分析师们补充说，任何转型都将是 “一个多年的提升（并不容易），但我们支持创始人的推动和行动。”</p>

露露乐蒙

<p>Elliott Investment Management 已收购 Lululemon 10 亿美元的股份，并提议前 Ralph Lauren 高管 Jane Nielsen 成为新任首席执行官，以接替离职的 Calvin McDonald。分析师们支持 Nielsen 的候选资格，因为她在成功扭转局面方面有丰富经验，尽管 Lululemon 面临的挑战与她在 Ralph Lauren 和 Coach 时所遇到的不同。Jefferies 的分析师强调，需要对 Lululemon 的核心优势和市场优先事项进行战略重塑，以实现成功的扭转</p>

<h3>Dive Brief:</h3>
<div class="lb-trans"><h3>深度简报：</h3>
</div><ul>
<li>Just days after Lululemon announced CEO Calvin McDonald would step down, Elliott Investment Management has acquired a more than $1 billion stake in the company and is pushing for former Ralph Lauren executive Jane Nielsen to become CEO of the activewear brand, according to a person familiar with the matter.</li>
<li>Nielsen served as Ralph Lauren’s chief operating officer and chief financial officer for several years, along with a short stint as interim CEO, and also has experience as the chief financial officer of Coach. She is currently a board member at Mondelēz International, according to her LinkedIn.</li>
<li>Lululemon did not immediately respond to a request for comment. CFO Meghan Frank, who will co-lead the retailer in the interim when McDonald exits, said last week the retailer was looking for experience in growth and transformation for its next CEO.</li>
</ul>
<div class="lb-trans"><ul>
<li>就在露露乐蒙宣布首席执行官 Calvin McDonald 将辞职的几天后，Elliott Investment Management 已收购该公司超过 10 亿美元的股份，并推动前拉尔夫·劳伦高管 Jane Nielsen 成为该运动服品牌的首席执行官，消息人士透露。</li>
<li>Nielsen 曾担任拉尔夫·劳伦的首席运营官和首席财务官多年，并短暂担任过临时首席执行官，同时也有担任 Coach 首席财务官的经验。根据她的 LinkedIn 资料，她目前是 Mondelēz International 的董事会成员。</li>
<li>露露乐蒙尚未立即回应置评请求。首席财务官 Meghan Frank 表示，当 McDonald 离职时，她将共同领导零售商，并上周表示零售商正在寻找具有增长和转型经验的下一任首席执行官。</li>
</ul>
</div><h3>Dive Insight:</h3>
<div class="lb-trans"><h3>深度洞察：</h3>
</div><p>Lululemon’s CEO succession plans have caught the interest of multiple observers.</p>
<div class="lb-trans"><p>露露乐蒙的首席执行官继任计划引起了多个观察者的关注。</p>
</div><p>Founder Chip Wilson last week noted there were “several qualified CEO candidates” that he thought could build on the brand’s legacy, though he did not name them. Wilson also urged the retailer to consult with those with deep knowledge of the brand as the CEO search commences.</p>
<div class="lb-trans"><p>创始人 Chip Wilson 上周指出，有 “几位合格的首席执行官候选人”，他认为他们可以延续品牌的遗产，尽管他没有具体提名。Wilson 还敦促零售商在首席执行官搜索开始时咨询对品牌有深刻了解的人士。</p>
</div><p>Now,investment firmElliott wants a say as well. The firm believes Nielsen’s experience as a strong strategist will help her in revitalizing the Lululemon brand, according to a person familiar, who also noted significant gains in share price, gross margin expansion and earnings-per-share growth at Ralph Lauren under Nielsen.</p>
<div class="lb-trans"><p>现在，投资公司 Elliott 也想发表意见。该公司认为 Nielsen 作为强有力战略家的经验将帮助她振兴露露乐蒙品牌，消息人士还指出，在 Nielsen 的领导下，拉尔夫·劳伦的股价、毛利率和每股收益均显著增长。</p>
</div><p>Analysts tend to agree. Needham analysts led by Tom Nikic said in emailed comments Thursday that Nielsen would be “an extremely strong candidate for the role,” calling her “one of the most well-respected and capable executives in the industry.” The analysts noted her “immense success” in driving turnarounds at both Ralph Lauren and Coach, though they pointed out that Lululemon is facing different problems than either of those brands.</p>
<div class="lb-trans"><p>分析师们普遍同意。Needham 的分析师 Tom Nikic 在周四的电子邮件评论中表示，Nielsen 将是 “一个极其强大的候选人”，称她是 “行业内最受尊敬和有能力的高管之一。” 分析师们指出她在拉尔夫·劳伦和 Coach 的成功转型中取得了 “巨大的成功”，尽管他们指出露露乐蒙面临的问题与这两个品牌不同。</p>
</div><p>“Coach and RL were both suffering because of aggressive pushes into downstream distribution (outlets, flash sale sites, off-price, etc.), which stifled margins and diluted the brands' images,” Nikic said, adding that Lululemon’s problems stem from product missteps and increased competition. “Her turnaround experience isn't perfectly aligned with LULU's current ills, but on the bright side, we believe that Coach and RL had much deeper-rooted issues than what LULU is currently facing.”</p>
<div class="lb-trans"><p>“Coach 和 RL 都因向下游分销（折扣店、闪购网站、低价等）的激进推进而受到影响，这抑制了利润率并稀释了品牌形象，” Nikic 说，并补充道露露乐蒙的问题源于产品失误和竞争加剧。“她的转型经验与露露乐蒙当前的问题并不完全契合，但从积极的一面来看，我们认为 Coach 和 RL 面临的问题根源更深于露露乐蒙目前所面临的。”</p>
</div><p>Jefferies analysts on Wednesday responded to Elliott’s efforts, saying a “refreshed board, a thoughtful CEO with real leadership, and a return to LULU’s roots are critical.” The analysts, led by Randal Konik, outlined their keys to a successful turnaround at Lululemon, including reprioritizing the U.S. market, rationalizing the brand’s store footprint, cutting back on noncore categories like outerwear, rebuilding the innovation pipeline and restoring the brand’s yoga-based DNA.</p>
<div class="lb-trans"><p>Jefferies 的分析师在周三回应了 Elliott 的努力，表示 “更新的董事会、具有真正领导力的深思熟虑的首席执行官，以及回归露露乐蒙的根基至关重要。” 由 Randal Konik 领导的分析师们概述了露露乐蒙成功转型的关键，包括重新优先考虑美国市场、合理化品牌的门店布局、削减外套等非核心类别、重建创新管道以及恢复品牌的瑜伽基因。</p>
</div><p>“Reduce the newness for newness’ sake approach,” Jefferies wrote. “Stop flooding stores w/ disjointed colors, patterns, and logo-heavy designs that dilute brand equity.”</p>
<div class="lb-trans"><p>“减少为了新颖而追求新颖的做法，” Jefferies 写道。“停止在门店中充斥不协调的颜色、图案和重标志设计，这些都会稀释品牌价值。”</p>
</div><p>The analysts added that any turnaround will be “a multi-year lift (not easy) but we support the founder’s push and activism.”</p>
<div class="lb-trans"><p>分析师们补充说，任何转型都将是 “一个多年的提升（并不容易），但我们支持创始人的推动和行动。”</p>
</div>

激进投资者希望由拉尔夫·劳伦的资深人士来领导露露乐蒙