A surging Lululemon Athletica is looking for new markets to conquer.
The athletic apparel retailer on Wednesday detailed an ambitious five-year growth plan that includes doubling its men’s and online revenues and quadrupling its international growth during the next five years. The company is also getting into the footwear business.
Lululemon is coming off a record 2018 during which its net revenue rose 24% to $3.3 billion and same-store sales surged 18%. At the company’s annual analyst day on Wednesday, CEO Calvin McDonald said that the brand will start making its own in-house footwear. The effort builds on a successful collaboration between Lululemon and sneaker brand APL (Athletic Propulsion Labs), which launched in August 2017.Read More