The Vancouver-based retailer said it will double its revenue to US$12.5 billion by 2026, focusing on men’s, digital and international growth. (The Logic)
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The Vancouver-based retailer said it will double its revenue to US$12.5 billion by 2026, focusing on men’s, digital and international growth. (The Logic)
Talking point: Lululemon plans to achieve that by creating new products and building a better guest experience. The latter includes a new two-tier loyalty program, which will launch this year. The first tier will be free, while the second tier will be tied to its at-home Mirror fitness product, which customers pay a monthly subscription fee to use. Over the next five years, the company anticipates that about 80 per cent of its customers will join the new loyalty program. The retailer made the announcements at its analyst day in New York after reaching its last set of goals announced in 2019—to double men’s and digital revenue, and to quadruple international revenue, by 2023—ahead of schedule. Lululemon’s shares fell nearly five per cent by close.
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