Lululemon history: Beyond the Ticker
By A Mystery Man Writer
Last updated 22 Sept 2024
A retailer originally known for its yoga wear, Lululemon (LULU) has evolved into a competitor of Nike (NKE), Adidas (ADDYY), and many more. In 2022 alone, Lululemon's revenue topped $8 billion, a more than 30 percent increase year-over-year. But what led to Lululemon's success? Let's dive into the company's biggest moments with Beyond the Ticker. 1998 Lululemon was founded in 1998 by Chip Wilson. Its first retail space was inside a local yoga studio in Vancouver, Canada. 2000 In November 2000, Lululemon opened its first official store in Vancouver. 2003 Lululemon’s first store in the United States opened in Santa Monica, California. 2007 On July 27, 2007, Lululemon went public via an initial public offering (IPO) on the NASDAQ at $18 per share. 2013 A few years later, the company hit rocky terrain. In March 2013, Lululemon recalled 17 percent of its black yoga pants for being too sheer, which cost it roughly $60 million in lost sales, according to the New York Times. Its CEO Christine Day resigned that June, and later told Fortune she left due to conflicting views with its founder Chip Wilson. That November, Wilson resigned as chairman following accusations of "fat shaming" brand strategies. Wilson previously told Bloomberg TV that issues with his company's leggings were because "some women’s bodies don’t work for the pants." 2014 In the midst of all this noise, Lululemon marched on, pushing more into menswear and investing in digital sales. It also opened its first European store in London. 2018 Day's successor, Laurent Potdevin then resigned in 2018. That August, Calvin McDonald took the helm as CEO and carried forward the momentum as the company moved its appeal beyond yoga. 2020 In June 2020, Lululemon took a chance at at-home, online fitness with the acquisition of Mirror for $500 million and rebranded it as Lululemon Studio. 2023 The company announced plans to ditch the Mirror fitness hardware with plans to end its classes in 2024. To soften the blow for investors, it signed a five-year strategic global partnership with Peloton (PTON), which would stream its classes on the connected fitness platform and produce and sell Peloton-branded clothes. After joining the S&P 500 in October, Lululemon's shares soared over 57% in 2023, with the company hitting an all-time high stock price of $511.29 on December 29. Lululemon continues to expand and compete with the giants of the athletic apparel industry, just this year announcing new footwear offerings, including its first-ever men’s collection. From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today. Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance. Editor's note: This video was produced by Zach Faulds.
A retailer originally known for its yoga wear, Lululemon (LULU) has evolved into a competitor of Nike (NKE), Adidas (ADDYY), and many more. In 2022 alone
A retailer originally known for its yoga wear, Lululemon (LULU) has evolved into a competitor of Nike (NKE), Adidas (ADDYY), and many more. In 2022 alone
JD.com jumps on earnings, $3B buyback program
France vs Germany: Friendly prediction, kick-off time, TV, live
Lululemon Business Model - FourWeekMBA
Athleisure Boom: Analysts bullish on Lululemon, cautious on Nike
TikTok's source code is the 'golden jewel' buyers won't get: Analyst
JetBlue, Spirit Airlines call off $3.8 bln merger
Why Lululemon Stock Has Gained 59% in 2018
Victoria's Secret Can Teach Lululemon About the Price of Hubris - Bloomberg
Why Is Lululemon Stock Going Down International Society of Precision Agriculture
Retail sector: Value-focused consumers spell trouble for Nordstrom?
Lululemon shares sink on disappointing outlook, slowdown in U.S. business - Barrie News
lululemon's Digital Marketing Strategy
Lululemon Athletica Brand Audit
White House Slams Elon Musk for 'Hideous' Antisemitic Remarks
How Alyson Hannigan Paid Tribute to Her “How I Met Your Mother
Recommended for you
- Lululemon beyond the studio crop pant 1st release true navy 2 XS high rise14 Jul 2023
- Beyond the Studio Pant Slim14 Jul 2023
- Big Sole Sneakers14 Jul 2023
- Lululemon Beyond the Studio Crop - Water Drop - lulu fanatics14 Jul 2023
- BEST DEAL Lululemon Beyond the Studio Jogger / Size 12 / Pink Mist14 Jul 2023
- Beyond Yoga Sizing Compared To Lululemon14 Jul 2023
- Oops Tried the Beyond the Studio jogger. Why are they so great? Why do I now have a new obsession??? LOL. BTSJ Cafe au Lait (6) - AND they're on WMTM! The14 Jul 2023
- lululemon athletica, Pants & Jumpsuits, Lululemon Beyond The Studio High Rise Jogger 414 Jul 2023
- Lululemon Responds But Can They Go Beyond A Press Release?14 Jul 2023
- Lululemon beyond the studio crop NWT These comfy, - Depop14 Jul 2023
You may also like
- Women'secret 3 Cotton Panties Pack Grey Women Briefs14 Jul 2023
- Adidas Formotion Sculpt Biker Short Tights and Studio Bra14 Jul 2023
- Calvin Klein Micro Stretch 3-pack Boxer Brief in Black for Men14 Jul 2023
- Shein Curve and Plus Review: Is it any good? - Reviewed14 Jul 2023
- Celebrities Wearing Fishnet Tights for Glam & Punk Style, Photos14 Jul 2023
- Women's Zendo Capris | Outdoor Research14 Jul 2023
- Shop Strike Football Crew Socks14 Jul 2023
- Deyllo Women's Push Up Strapless Bra Plus Size Lace Underwire Full Coverage Multiway Invisible Bras,White 38D14 Jul 2023
- MKS INDIA Spandex,Stretchable Banquet Chair Covers, For Wedding at Rs 149/piece in New Delhi14 Jul 2023
- USA Pro Womens Seamless Capri Cropped Leggings Brunera Blue 6 (XXS) : : Fashion14 Jul 2023