The lululemon brand, dedicated to the manufacture and sale of technical sports clothing, shoes and accessories, will land in Spain with the opening of two stores in Madrid and Barcelona in September, after activating a specific website for the Spanish market in August.
With its ‘Power of Three x 2’ growth plan, this company based in Vancouver (Canada), expects to quadruple its international revenues by the end of 2026 compared to 2021 levels. The expansion is, together with product innovation and customer experience, one of the three key pillars of its growth strategy.
The firm’s international sales last year reached $957 million, 15% of total revenue, with a three-year compound growth rate of 39%. The company applies the omnichannel approach of expanding both the store network and online commerce while expanding geographically.
Lululemon’s results for the first quarter of fiscal year 2022 show that it invoiced 32% more than the same period last year, up to 1,600 million dollars, and its profit reached 189.9 million, 31% more.
The company has almost 40 stores and three local language websites in eight European countries (Germany, France, Ireland, Norway, the Netherlands, the United Kingdom, Sweden and Switzerland) and also ships to other countries on the continent through its European website. Spain is the first newly opened market since 2019.
The company’s international executive vice-president, André Maestrini, has stated that they are “very keen to connect with Spaniards both online”, through the brand’s website, “as well as offline”, at the physical points of sale that will be located in Calle Serrano in Madrid and in Paseo de Gracia in Barcelona.
As explained by the company, customers will have “specialized staff who will help them reach their full potential through activity, personal growth and connection, as well as establishing relationships with the local community through studies.” and the ambassadors, leading figures in fitness and wellness.”
The two Spanish stores will offer the brand’s latest innovations developed under the Science of FeelTM design and technology concept, based on the idea that “when you feel good, you perform better”, according to the brand.
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