×
89 149
Fashion Jobs
URBN
Urbn Financial Analyst
Permanent · PHILADELPHIA
URBN
Free People CRM Analyst
Permanent · PHILADELPHIA
URBN
Free People Assistant Visual Manager
Permanent · WASHINGTON
BATH & BODY WORKS
Senior Manager, Stores Learning And Development
Permanent · COLUMBUS
TUMI
Director, Global Marketing
Permanent · NEW YORK
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODBURY
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · NEW YORK
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Soho
Permanent · NEW YORK
BLOOMINGDALE'S
Registry Consultant, Full Time - Boca Raton
Permanent · BOCA RATON
H&M
842 Area Visual Manager
Permanent · LOS ANGELES
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Short Hills
Permanent · MILLBURN
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · COSTA MESA
COLUMBIA SPORTSWEAR COMPANY
Regional Loss Prevention Manager (Northwest-us)
Permanent · SALEM
COLUMBIA SPORTSWEAR COMPANY
Operations Manager - Swing Shift
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Chestnut Hill
Permanent · NEWTON
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Chevy Chase
Permanent · CHEVY CHASE
BLOOMINGDALE'S
Asset Protection Detective, Full Time, San Francisco
Permanent · SAN FRANCISCO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Huntington
Permanent · HUNTINGTON STATION
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, San Francisco
Permanent · SAN FRANCISCO
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time, Dolphin Mall
Permanent · MIAMI
Published
Apr 21, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Lululemon aims to double revenue by 2026

Published
Apr 21, 2022

Athleticwear company Lululemon announced on Wednesday a new five-year target strategy outlining its plan to double revenue by 2026 to $12.5 billion.

The Vancouver, Canada-based company said it plans to double its 2021 revenue of $6.25 billion over the coming five years, adding it expects significant growth across "key pillars including product innovation, guest experience, and market expansion," according to a press release.


Dubbed the 'Power of Three ×2', the growth strategy includes a plan to double men’s and digital revenues, and to quadruple international revenues relative to 2021 - Lululemon


Dubbed the 'Power of Three ×2', the growth strategy includes a plan to double men’s and digital revenues, and to quadruple international revenues relative to 2021. The company’s women’s business, store channel, and North American operations will continue to play an important role in the strategy, with women’s and North America each expected to generate low double digit compound annual growth rates (CAGR) in revenue over the next five years, while stores are expected to grow in the mid-teens.

Product Innovation

Having achieved its 2023 men’s growth target two years early, Lululemon said it expects to double the size of its men’s revenues by 2026, along with ongoing expansion in its women’s and accessories businesses.

The company will leverage Science of Feel, its lens for innovation, to innovate across categories, with significant runway within Core performance (Run, Train, Yoga and On the Move) as well as exciting opportunities in Play (Tennis, Golf and Hike) and new categories such as footwear, which was recently launched.

Guest Experience



​On top of a tripling of its digital revenue between 2018 and 2021, the company projects to double its digital revenues by 2026. To accomplish this goal, Lululemon will continue to create experiences by harnessing the power of its guest relationships to build stronger connections across both physical and digital, cultivate its community, and inspire through innovation.

Last week, the company announced the expansion of Lululemon Like New, the brand’s first trade-in and resale program, available nationwide in the United States beginning April 22.

Market Expansion



Finally, Lululemon said it is on track to quadruple its international revenue relative to 2018 in 2022. Under its new strategy, the activewear giant expects to again quadruple its international revenues relative to 2021 by 2026.  Engaging guests in China Mainland, growing its core markets, and scaling and entering new countries across APAC and Europe will be key to delivering on its new goal, adding it plans to open its first stores in Spain and Italy.

“The success of our Power of Three formula in delivering on our 2023 growth strategy supports our goal to double the business over the next five years,” said Calvin McDonald, chief executive Officer.

“We remain early in our growth journey, with our strong product engine, proven ability to create enduring guest relationships, and significant runway in core, existing, and new markets. Following our compelling track record of delivering against our goals, I am excited about taking our growth strategies to the next level to serve more and more guests around the world.”
 

Copyright © 2022 FashionNetwork.com All rights reserved.