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Lululemon Athletica

Operates chain of beauty stores and salons.

Headquarters:
1818 Cornwall Avenue
Vancouver, BC V6J 1C7
Employees: 6,383
CEO: Christine Day
Stock Symbol: LULU

Website: http://www.lululemon.com

Career Site

Lululemon athletica is engaged in the design, manufacture and distribution of yoga-inspired athletic apparel, which is sold through a chain of corporate-owned and operated retail stores, direct to consumer through e-commerce and through a network of wholesale accounts.

Lululemon's yoga-inspired apparel is marketed under the lululemon athletica and ivivva athletica brand names. It offers a comprehensive line of apparel and accessories including pants, shorts, tops and jackets designed for athletic pursuits such as yoga, running and general fitness, and dance-inspired apparel for female youth.

The company operates 226 corporate-owned stores and the primary markets are the United States, Canada, Australia, and New Zealand.

For fiscal 2012, the company reported sales of $1.37 billion, a 37% increase, and net income of $271.4 million.

Laurent Potdevin has been named the company's new CEO and will take over for Christine Day in January 2014.

History

After 20 years in the surf, skate and snowboard business, founder Chip Wilson took the first commercial yoga class offered in Vancouver and found the result exhilarating. The post-yoga feeling was so close to surfing and snowboarding that it seemed obvious that yoga was an ideology whose time had come (again).

Cotton clothing was being used for sweaty, stretchy power yoga and seemed completely inappropriate to Chip, whose passion lay in technical athletic fabrics. From this, a design studio was born that became a yoga studio at night to pay the rent. Clothing was offered for sale and an underground yoga clothing movement was born. The success of the clothing was dependent on the feedback from yoga instructors who were asked to wear the products and provide their insights.

Founded in 1998, lululemon's first real store opened in the beach area of Vancouver BC called Kitsilano, in November of 2000. The idea was to have the store be a community hub where people could learn and discuss the physical aspects of healthy living from yoga and diet to running and cycling as well as the mental aspects of living a powerful life of possibilities. Unfortunately for this concept, the store became so busy that it was impossible to help the customer in this way in addition to selling the product.

The lululemon name was chosen in a survey of 100 people from a list of 20 brand names and 20 logos. The logo is actually a stylized "A" that was made for the first letter in the name "athletically hip", a name which failed to make the grade.

The company went public in July 2007.

Updated December 11, 2013