Once hailed as Canada’s business success stories, two major companies are now on the verge of seeing their brands disappear, according to a U.S. website.
Lululemon and BlackBerry have made 24/7 Wall St.’s list of “10 brands that will disappear in 2015.”
24/7 Wall St., a financial news and opinion website, publishes an annual list of brands it predicts will vanish the following year, whether that’s because of poor performance or mergers and acquisitions.
It cites high-profile controversies and management changes at Lululemon among the reasons behind the company’s reversal of fortune.
In March 2013, Lululemon was forced to pull a style of its yoga pants from shelves after customers complained that the fabric was too sheer. Months later, company founder Chip Wilson said in a TV interview that some women’s bodies “just actually don’t work” for Lululemon pants, prompting outrage.
Wilson apologized, but later announced he would be stepping down. Last summer, Lululemon CEO Christine Day also announced her departure.
Lululemon has since been dealing with declining sales and stock prices.
As for BlackBerry, 24/7 Wall St. says the smartphone pioneer is “about to run out of its nine lives.”
After a long list of painfully documented missteps by the company, which allowed competitors Apple and Android to overtake the market, BlackBerry’s revenue has “continued its multiyear slide,” 24/7 Wall St. notes.
This year’s list of disappearing brands also includes Facebook game provider Zynga, Alaska Air, Time Warner Cable and clothing company Aeropostale.
