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Lululemon Athletica Inc. is a company engaged in the design, distribution, and retail of technical athletic apparel, footwear, and accessories. They sell performance apparel such as pants, shorts, tops, and jackets designed for activities like yoga, running, and training, as well as fitness-inspired accessories . The company markets these products under the lululemon brand and employs a vertical retail approach to gather customer feedback and incorporate it into product design, differentiating them from competitors . Lululemon operates through various channels, including company-operated stores, e-commerce, outlets, and wholesale arrangements, with a significant portion of its revenue generated from physical retail locations .
- Women's Product Range - Offers a wide variety of performance apparel tailored for women, including yoga pants, running shorts, and training tops.
- Men's Product Range - Provides performance apparel for men, featuring items like athletic shorts, tops, and jackets designed for various physical activities.
- Other Product Categories - Includes fitness-inspired accessories and footwear, expanding the brand's offerings beyond apparel.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Calvin McDonald ExecutiveBoard | CEO | Board Member at The Walt Disney Company | Calvin McDonald has been the CEO of Lululemon since August 2018. He previously served as President and CEO of Sephora Americas and Sears Canada. He holds an MBA from the University of Toronto. | View Report → |
Andr\u00e9 Maestrini Executive | EVP, International | None | Andr\u00e9 Maestrini has been EVP, International since January 2021. He previously worked at Adidas and Coca-Cola. | |
Celeste Burgoyne Executive | President, Americas and Global Guest Innovation | None | Celeste Burgoyne joined Lululemon in 2006 and became President, Americas and Global Guest Innovation in October 2020. She played a key role in U.S. expansion. | |
Meghan Frank Executive | CFO | None | Meghan Frank joined Lululemon in 2016 and became CFO in November 2020. She previously held roles at Ross Stores and J. Crew. | |
Nicole Neuburger Executive | Chief Brand & Product Activation Officer | None | Nicole Neuburger joined Lululemon in January 2020. She previously worked at Uber Eats and Nike. | |
Alison Loehnis Board | Director | Ad-interim CEO and President of Luxury and Fashion at Yoox Net-a-Porter | Alison Loehnis joined the board in January 2022. She has extensive experience in retail and e-commerce. | |
David Mussafer Board | Lead Director | Chairman and Managing Partner of Advent International Corporation; Board Member at Olaplex Holdings Inc. and Thrasio | David Mussafer has been on the board since September 2014. He has extensive experience in board processes and operations. | |
Emily White Board | Director | President of Anthos Capital; Board Member at Olaplex Holdings Inc., Guayaki Sustainable Rainforest Products, Inc., Gretel.ai, Northern Start Investment Corp IV, and Railsbank | Emily White has been on the board since November 2011. She has extensive experience with social networking and technology companies. | |
Isabel Mahe Board | Director | Vice President and Managing Director of Greater China at Apple Inc. | Isabel Mahe joined the board in November 2022. She has extensive experience in technology and international markets. | |
Jon McNeill Board | Director | CEO of DVx Ventures; Board Member at General Motors, Asurion, CrossFit, LLC, Tekion Corp, Stash Financial, Inc., and Tier Mobility | Jon McNeill has been on the board since April 2016. He has extensive experience in technology and venture capital. | |
Kathryn Henry Board | Director | Co-Founder and Advisor of LightBrite | Kathryn Henry has been on the board since January 2016. She was previously CIO at Lululemon. | |
Martha Morfitt Board | Chair of the Board | Principal of River Rock Partners, Inc.; Board Member at Graco, Inc. and Olaplex Holdings, Inc. | Martha Morfitt has been on the board since December 2008 and Chair since March 2022. She has extensive experience in consumer businesses. | |
Michael Casey Board | Director | None | Michael Casey has been a director since October 2007. He has extensive experience in corporate finance and accounting. | |
Shane Grant Board | Director | Group Deputy CEO, CEO Americas, and EVP Dairy, Plant-Based, and Global Sales at Danone; Board Member of the US Food Industry Association (FMI); Executive Committee Member of the Consumer Brands Association; Member of the American Heart Association CEO Roundtable; Member of World 50 | Shane Grant joined the board in November 2023. He has extensive experience in consumer brands and international markets. | |
Teri List Board | Director | Board Member at Visa Inc., Microsoft Corporation, and Danaher Corporation | Teri List joined the board in March 2024. She has extensive experience in corporate finance and accounting. |
- Given that U.S. revenue was flat in Q3, consistent with Q2, what specific strategies are you implementing to drive growth in the U.S. market, and when do you anticipate seeing meaningful improvements?
- With inventory expected to grow in the mid-teens percentage in Q4, how are you managing the risk of elevated inventory levels impacting margins, especially considering the dynamic macro environment?
- Can you elaborate on the efficiencies and benefits you're seeing from the new reporting structure within your product team, and how it's contributing to the increase in seasonal newness by Q1 2025?
- Your unaided brand awareness in the U.S. remains low at 36%; what key initiatives are you pursuing to improve brand recognition, and how do you expect this to influence your revenue per guest?
- As you increase your marketing spend closer to 5.5% of sales, how are you evaluating the return on investment from these initiatives, particularly in re-engaging lapsed customers in the U.S.?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company is a direct competitor in the athletic apparel and footwear market, known for its strong worldwide brand recognition and significant competitive advantages, including larger customer bases and greater financial resources. | |
adidas AG | This competitor operates in the athletic apparel and footwear market and is recognized for its substantial market share and global brand presence. |
PUMA | A competitor in the athletic apparel and footwear industry, offering products with a focus on performance and style. |
This competitor is a direct seller of athletic apparel and footwear, competing on innovation and brand recognition. | |
A competitor in the athletic apparel market, known for its outdoor and performance-focused products. | |
The Gap, Inc. (including the Athleta brand) | This competitor has expanded into women's athletic apparel, leveraging its established retail presence and brand recognition. |
A competitor offering sport and lounge apparel, targeting the women's athletic apparel market. | |
This competitor has entered the athletic apparel market, focusing on younger demographics and lifestyle-oriented products. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
lululemon branded retail locations and operations in Mexico | 2024 | Deal Value & Structure: Total consideration of approximately $181.4 million comprised of $159.4M in cash, $15.0M in contingent consideration tied to performance conditions until December 31, 2025, and $7.0M for settlement, with notable elements like $147.0M in goodwill and acquisition of net assets valued at $29.1M. Strategic Rationale & Assets: The acquisition of 16 retail locations (14 company-operated and 2 pop-up) enables lululemon to directly manage and expand operations in Mexico, enhancing community engagement and guest experience. |
MIRROR | 2020 | Deal Value & Structure: Acquired for approximately $500 million in cash, with adjustments including $10M held in escrow for indemnification and $57M tied to deferred compensation, funded through cash reserves and revolving credit facilities. Strategic Rationale & Assets: The acquisition of MIRROR—a provider of in-home interactive fitness experiences—complements lululemon’s Power of Three growth plan by enhancing digital capabilities and omni guest experiences. |
Recent press releases and 8-K filings for LULU.
- Q4 Performance: Net revenue of $3.6B (+13% [14% in constant currency]), EPS at $6.14 (+16%), operating margin of 28.9%, and robust share repurchase activity contributed in Q4 .
- Full-Year Guidance: Projected revenue between $11.15B and $11.3B for 2025, accounting for FX and tariff headwinds, with planned store openings and optimization .
- Annual Results: Annual revenue reached $10.6B (+10%) with diluted EPS of $14.64 (+15%), reflecting strong overall performance .
- Strategic Initiatives: Enhanced product innovation via new franchise launches, global marketing activations, and engaging community events to boost brand awareness .
- Growth Plan Execution: Continued deployment of the Power of Three x2 growth plan with Q4 recording women’s revenue up 6% and men’s up 12% .
- Store Expansion: Opened 18 net new company-operated stores, bringing the global total to 767 .
- Q4 performance: Net revenue increased by 13% to $3.6 billion with diluted EPS of $6.14.
- Full year results: Revenue grew by 10% to $10.6 billion and diluted EPS reached $14.64.
- Operational highlights: The company repurchased 0.9 million shares for $332.2 million and opened 18 new stores, bringing the total to 767 stores.