Lululemon Leggings Are The Hottest Item In Teen Retail

"Leggings/lululemon" were named as the top fashion trend in Piper Jaffray's semi-annual Taking Stock With Teens survey.

More than a quarter of teen girls surveyed by Piper Jaffray named "Leggings/lululemon" as the top fashion trend. Other trends included crop tops (6%), high-waisted pants and skirts (6%), and Nike shoes (4%).

Teenagers are increasingly wearing yoga pants instead of jeans, Danielle McCoy, vice president of equity research at Wunderlich Securities, told Business Insider.

"We have seen denim spiraling downward from the premium denim players all the way to the teens, especially with the color trend disappearing," McCoy said. "The entire consumer industry has been shifting towards a more convenient and comfortable way of living."

While other brands like Victoria's Secret Pink and Forever 21 are offering yoga pants, teens see pricey Lululemon as the ultimate aspirational product, according to McCoy.

The average pair of yoga pants costs $82.

Lululemon also has a plan to get younger customers hooked on its gear.

Ivivva Athletica, a brand for children and preteens, has been quietly spreading through the U.S. and Canada.

Avivva's leggings, which cost $64, are cheaper than Lululemon's.

Earlier this year, the brand announced that same-store sales had surged 17%.