The move comes as the Canadian athleisure brand reports positive business results.
The company has announced that for the second quarter of 2020 ending August 2 their net revenue was $554.3M, which is a huge increase of 155 per cent year-on-year. The brand’s direct to consumer net revenue represented 61.4 per cent in comparison to last year’s 24.6 per cent.
Lululemon has stated that they remain quietly optimistic for the rest of the year given that consumer behaviour is ever-changing and people are continuing to work and workout from home. The brand has worked tirelessly to engage with customers throughout this period, providing free exercise classes and encouraging at-home workouts.
CEO Calvin McDonald said, “We’re pleased with our overall business results for the second quarter, as lululemon increasingly lives into its omni potential. As trends around the world are shifting to working and sweating from home with an increased focus on health and wellness, we believe 2020 is likely an inflection point for retail and for lululemon.”
