lululemon

Chip Wilson opened the first lululemon store in Vancouver in 1998 as a dual-purpose yoga studio and retail space, having previously founded Westbeach Snowboard Ltd. and sold it before turning his attention to yoga apparel. The Vancouver concept grew through Canada before expanding into the United States in the early 2000s, and lululemon completed its NASDAQ listing under LULU in 2007. Calvin McDonald took over as CEO in 2018 following Wilson’s departure from executive roles, and has led the company through its most commercially expansive period: from approximately $3.3 billion in revenue in fiscal year 2018 to approximately $10.6 billion in fiscal year 2024, an increase driven by men’s expansion, international growth, and the continued dominance of the women’s athletic category the brand essentially created for specialty retail.

The Align legging, first introduced in 2015 using the proprietary Nulu fabric, became the brand’s highest-volume single item and established a product development template that lululemon has applied across categories: identify a friction point in athletic dressing, develop a proprietary material solution, produce the item in a range of fits and lengths, and maintain it as a permanent core rather than a seasonal offering. The same logic produced the ABC (anti-ball crushing) pant for men, the Scuba hoodie, the Metal Vent Tech base layer for running, and the Blissfeel running shoe introduced in 2022. The 2020 acquisition of Mirror, the in-home connected fitness platform for $500 million, was reversed in 2023 when lululemon sold the business after failing to integrate digital fitness into the core retail value proposition. The men’s business, historically a secondary priority, grew to approximately 24% of total net revenue by fiscal year 2024. The “Power of Three x2” strategic plan targets $12.5 billion in revenue by 2026, with China representing the most significant international growth corridor.

lululemon operates more than 700 stores globally, with the United States as the largest market by store count, Canada as the second, and a growing presence in the United Kingdom, Australia, the UAE, Hong Kong, China, and Israel. Within the Malls.com network, the brand is tracked at an exceptionally dense US footprint including South Coast Plaza, Westfield Century City, Westfield Valley Fair, Tysons Corner Center, The Forum Shops at Caesars Palace, The Galleria Houston, NorthPark Center, Cherry Creek Mall, Ala Moana Center, Oakbrook Center, The Mall at Short Hills, Americana Manhasset, Waterside Shops in Naples, Highland Park Village in Dallas, Country Club Plaza in Kansas City, Mall at Green Hills in Nashville, The Grove in Los Angeles, The Westchester in White Plains, Malibu Lumber Yard, Bellevue Square, North Star Mall, Somerset Collection in Troy, and City Creek Center. Canadian positions include Yorkdale Shopping Centre, West Edmonton Mall, Vaughan Mills, and Quartier DIX30. International tracked positions include Mall of the Emirates, Dubai Marina Mall, and Ofer Ramat Aviv Mall.

For mall operators, lululemon is a Class A and Class A++ anchor for lifestyle centers and premium regional malls, typically occupying 2,500 to 5,500 square feet in formats that combine the full women’s and men’s athletic assortment with the brand’s characteristic educator-staffed floor model. The brand’s customer drives the highest measured purchase intent per visit in the athletic specialty category, producing sales-per-square-foot figures that consistently rank among the top three across all specialty fashion tenants. The lululemon community programming model, which schedules in-store yoga sessions, ambassador events, and product launches as ongoing retail-adjacent marketing, extends the store’s function beyond a transaction point and generates foot traffic on weekdays that most athletic specialty tenants cannot sustain.