Lululemon moves to Spain.
On Tuesday, the Canadian competes athletically Clothing, accessories and retailers announced plans to open two stores in Spain this fall and a Spanish e-commerce site this summer. The move marks the company’s first European expansion since the pre-pandemic era in 2019.
Lululemon added a hiking collection to its range in June.
Photo courtesy ASATO iiDA
“As a brand [that] supports well-being, Lululemon has a strong synergy with the active, balanced lifestyle enjoyed in Spain,” said André Maestrini, Executive Vice President, International. “We look forward to engaging with Spanish guests through our website and at the opening of our first retail stores in Madrid and Barcelona. The strength of our model in terms of product innovation, guest experience, community and culture provides a unique advantage as we launch Lululemon into our newest market.”
E-commerce site lululemon.es will launch later this month, followed by two stores – one in Madrid and one in Barcelona – in September. Lululemon has almost 40 stores in eight countries in Europe: France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom. The retailer has 579 stores internationally.
Lululemon introduced its first sneaker collection in March.
Photo courtesy of Jenna Saint Martin
Meanwhile Lululemon keeps growing, Improvement on top and bottom lines in the most recent quarter, despite industry-wide headwinds. In April, the retailer took one Revenue target of $12.5 billion by 2026. At the time, company executives said it also had plans to open new stores in Thailand and Italy within the next 12 months. A second experience store will also open in Houston later this year.
The company is also deep in product expansion mode, launching women’s sneakers; workout hijabs; Hiking, golf and tennis Clothing; bags of mushrooms; resale and fitness at home, all during the pandemic. Lululemon is too the official outfitter by Team Canada (a role it will retain until 2028).
“We’re at the beginning of growth,” Lululemon chief executive officer Calvin McDonald told analysts in April.