Lululemon And CEO's "Lulu" Of A Quarter
You heard me rant here on this blogabout Lululemon failing to answer questions about its Vitasea line and whether or not it truly contains seaweed. The company was late in issuing a press release and defending their products but finally, in his first public comments, CEO Bob Meers joined us live on CNBC to defend the athletic wear company.
"Absolutely the product stands up to claims.." is what Meers told me on "The Call" today (first video.) He also said that the company was "caught off guard" by the New York Times story that claimed the company knowingly falsely advertised the products.
Meers also refuted the reporting of my colleague Herb Greenberg who has been digging into the bio of Lulu's CEO. Take a look at Herb's blog for some details. (video below is Herb and myself on CNBC earlier today)
I think it is definitely a step in the right direction for Meers to address these questions directly and not leave speculation up to the rumor mill. That's an improvement over the initial lack of response to the Vitasea questions.
Whether or not Meers' resume exaggerated or underplayed his role at Reebok is up to readers to decide but when asked (twice) by me on air about the controversy, Meers said he stands by public accounts of his bio. What do you think? Write and let me know: firstname.lastname@example.org.
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