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July 6, 2022updated 07 Jul 2022 2:27am

Lululemon eyes international expansion with Spain launch

Canadian athletic apparel retailer Lululemon Athletica has revealed plans to enter Spain as part of its 'Power of Three ×2' growth plan.

By Fi Forrest

Spain marks the first new market for Lululemon since 2019, with the retailer set to open two new stores and a local e-commerce site in the country later this month. The move is part of Lululemon’s Power of Three ×2 growth plan, which includes a quadrupling of its international revenue from 2021 levels by year-end 2026.

Beginning with the launch of the website in late July, the company’s apparel and accessories for men and women will be available to purchase from the dedicated e-commerce platform in Spanish for the first time. Then in September, Lululemon will open its first Spanish retail locations in the heart of Madrid and Barcelona’s shopping districts, on Calle Serrano and Paseo de Gracia respectively.

“As a brand which supports wellbeing, Lululemon has a strong synergy with the active, balanced lifestyle enjoyed in Spain,” says André Maestrini, executive vice president, international. “We’re looking forward to connecting with Spanish guests, through our website and at our first retail stores opening in Madrid and Barcelona. The strength of our model across product innovation, guest experience, community and culture provides a unique advantage as we introduce Lululemon to our newest market.”

Lululemon currently operates almost 40 stores and has three local language sites in eight countries in Europe: France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland, and the UK.

Last month, Lululemon raised its guidance for the full year on the back of a 32% increase in first-quarter net sales.

Reporting its results for the first three months of its financial year, Vancouver-based Lululemon Athletica said net sales amounted to US$1.6bn, up from $1.2bn a year earlier.

The update came two months after the company revealed plans to double men’s and digital revenues and quadruple international revenues relative to 2021 as part of its new five-year growth plan.

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