Sumary of Lululemon aims to double its revenue by 2026:
- Sportswear company Lululemon announced a new five-target strategy on Wednesday The growth strategy, dubbed Power of Three ×2, includes a plan to double revenue from the men’s and digital division, and quadruple international revenue with compared to 2021.
- Market expansion Finally, Lululemon assured that it is on track to quadruple its international revenues in relation to 2018 in 2022.
- Last week, the company announced the expansion of Lululemon Like New, the brand’s first trade-in and resale program, available nationally in the United States starting April 22.
- To achieve this goal, Lululemon will continue to create experiences by harnessing the power of its customer relationships to build stronger physical and digital connections, cultivate its community, and inspire through innovation.
- And Europe will be key to meeting its new objective, adding that it plans to open its first stores in Spain and Italy.
- Both the women’s division and North America are expected to generate double-digit compound annual growth rates (CAGR) in revenue over the next five years Product Innovation Having reached its growth target of 2023 for the men’s division two years in advance, Lululemon indicated that it expects to double the size of its revenue in this division in 2026, along with continued expansion in its women’s and accessories divisions.