What is Lululemon Athletica?

Table of Contents

 

1. What is Lululemon Athletica?

Lululemon Athletica, commonly known as Lululemon, is a Canadian-American multinational athletic apparel retailer. It was founded in Vancouver, Canada in 1998 by Chip Wilson. The company is known for its yoga-inspired, technical athletic apparel designed for yoga, running, training, and most other sweaty pursuits.

Lululemon has expanded to sell athletic wear, lifestyle apparel, accessories, and personal care products. As of January 2023, the company operates 655 stores worldwide and also sells its products online. The company’s headquarters are located in Vancouver, British Columbia, Canada.

Key people in the company include Calvin McDonald (CEO), Glenn Murphy (chairman), Meghan Frank (CFO), Kristin Brady (CPO), and Celeste Burgoyne (EVP, Americas).

 

2. The CEO of Lululemon Athletica

The current CEO of Lululemon Athletica is Calvin McDonald. He was appointed as CEO in August 2018. As of November 2023, he has a tenure of over 5 years. His total yearly compensation is $15.66M, comprised of 8% salary and 92% bonuses, including company stock and options. He directly owns 0.058% of the company’s shares, worth $32.97M.

 

3. History of Lululemon Athletica

Lululemon Athletica, often referred to as Lululemon, was founded in Vancouver, Canada in 1998 by Chip Wilson. Here are some key milestones in the company’s history:

• 1998: Founded by Chip Wilson in Vancouver, Canada. It started as a design studio by day and yoga studio by night.
• 2000: Became a standalone store in November on West 4th Avenue in Vancouver’s Kitsilano neighbourhood.
• 2006: Announced the general availability of its first application, Workday Human Capital Management.
• 2007: Announced the beta release of Workday Financial Management.
• 2009: More than 100 companies in 46 countries had selected Workday as their cloud application for finance and HR.
• 2010: With the delivery of Workday 10, global organisations now had a single system-of-record for both talent management and core human capital management.
• 2011: Announced Workday Student – the first true cloud application for higher education.
• 2012: Went public on the New York Stock Exchange.
• 2014: Announced the availability of Workday Recruiting.
• 2015: Achieved a 98 per cent customer satisfaction rating.

Lululemon has grown significantly since its inception and as of January 2023, it operates 655 stores worldwide.

 

4. Lululemon Athletica's Key products and services

Lululemon Athletica offers a wide range of products and services, primarily focusing on athletic apparel. Here are some of the key products and services offered by Lululemon:

1. Activewear: This includes tops, yoga pants (a product that the company invented), shorts, sweaters, jackets, and undergarments.
2. Loungewear: Comfortable clothing designed to be worn for relaxing and lounging.
3. Footwear: Lululemon also offers a range of footwear designed to support various physical activities such as yoga, running, and training.
4. Accessories: This includes hair accessories, bags, yoga mats, and water bottles.
5. Personal Care Products: Lululemon sells personal care products such as deodorant and dry shampoo.
6. Hemming Services: Lululemon offers complimentary hemming on tops and pants at all of their stores.

These products are designed to support various physical activities such as yoga, running, and training. They are sold in Lululemon’s retail stores and online.

 

5. Lululemon Athletica's Competitors

 

Lululemon Athletica operates in a competitive market with several key players. Here are some of the main competitors of Lululemon:

1. Nike: The biggest Lululemon competitor. It is the largest apparel manufacturer with about 27.4% of the market share as of 2019.
2. Adidas: A global sportswear manufacturer.
3. Under Armour: An American company that manufactures footwear, sports, and casual apparel.
4. Gap: An American worldwide clothing and accessories retailer.
5. Sweaty Betty: A British retailer specialising in women’s activewear.
6. Fabletics: Probably the biggest rival to Lululemon when it comes to pure-play athleisure products.
7. Columbia Sportswear: An American company that manufactures and distributes outerwear, sportswear, and footwear.
8. Puma: A German multinational corporation that designs and manufactures athletic and casual footwear, apparel and accessories.
9. Outdoor Voices: An American clothing company that produces athletic clothing.
10. New Balance: An American multinational corporation that produces athletic footwear and apparel.

Please note that the competitiveness can vary based on the specific product or service line, geographical presence, target customer segment, and other factors.

 

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