Lululemon announces new social and environmental goals
Lululemon Athletica Inc. announced on Wednesday new social and environmental goals, as part of the release of its first-ever 'Impact Agenda'.
In the report, the yogawear maker laid out a multi-year strategy that addresses critical social and environmental issues via 12 goals. These commitments fall under three pillars - 'Be Human', 'Be Well' and 'Be Planet' - and touch upon a range of global issues, including diversity and inclusion, mental wellbeing, climate change, and circularity.
Notable commitments include a $75 million investment in its global and local communities by 2025, the expansion of its gender pay equity to full pay equity for its employees, and its commitment to the environment, via its goal to make 100 percent of its products with sustainable materials and end-of use solutions by 2030.
Moreover, the Vancouver-based brand equally announced a commitment to source 100 percent renewable electricity to power the company’s operations by 2021, as well as a goal to establish a 'Centre of Excellence' for social impact by 2021, and to reduce carbon emissions across its global supply chain by 60 percent per unit of value added.
“Lululemon has a unique opportunity, responsibility and platform to drive meaningful change. We share our Impact strategy against the backdrop of the Covid-19 pandemic, a global climate crisis, and systemic inequities in our society,” said Calvin McDonald, CEO. “As a global brand, industry, and as individuals, we must play a part to change the world for the better.
“Our Impact Agenda is more than a set of commitments. It’s a holistic approach that reflects who we are, guided by our purpose to elevate the world by realizing the full potential within every one of us. I am grateful to everyone who has dedicated their knowledge and experience to help us define our approach," McDonald added.
Lululemon has remained strong amid the Covid-19 pandemic. Earlier this year, it acquired at-home fitness company Mirror for $500 million, capitalizing on the booming demand for home workout classes, as a result of the pandemic. The investment in Mirror is expected to generate $150 million in 2020 revenue for the company.
The company has also seen a surge in online sales, with its direct-to-consumer business jumping 155 percent in the second quarter ended August 2.
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