Lululemon, the troubled once-cult yoga-wear brand, has hired a new chief product officer, a position that has been unfilled since April. The previous chief product officer, Sheree Waterson, stepped down when one of the chain's key products, a style of yoga pants, had to be recalled for being too sheer. In June, CEO Christine Day said she'd step down too, pending a replacement.
The new head of product, Tara Poseley, comes from Sears Holdings, where she's been president of Kmart Apparel since February 2010. Her resume blends the mass market--Disney stores, the Gap--with hipper brands Bebe and Design Within Reach. According to the press release, she'll be a good cultural fit for the Vancouver-based company, since she practices yoga and is a telemark skier.
Despite its well-publicized troubles, the athletic-wear company reported a 22% increase in net revenue last quarter. Its future marketing direction includes opening its first-ever stores for men starting in 2016.