Lululemon to open two new stores and a local e-commerce site in Spain

• With significant runway ahead and the company’s "Power of Three ×2” growth plan, which includes a quadrupling of its international revenue from 2021 levels by year-end 2026, Lululemon Athletica (NASDAQ:LULU) enters Spain as the first new market in Europe since 2019.
• The company is planning to open two new stores and a local e-commerce site in Spain.
• E-commerce site lululemon.es will be launched in late July and in September, the company will open its first Spanish retail locations in the heart of Madrid and Barcelona’s shopping districts, on Calle Serrano and Paseo de Gracia.
• “As a brand which supports wellbeing, lululemon has a strong synergy with the active, balanced lifestyle enjoyed in Spain,” said 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.”
• The company currently operates almost 40 stores and three local language sites in eight countries in Europe: France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland, and the UK. In addition, lululemon ships to additional countries across Europe via its EU website.
• Athletic apparel stock gets a Buy rating from the Wall Street Analysts and Hold rating from SA quant rating system.

Comments

[The Bank]

Brilliant idea. Spain was the healthiest country in the world last I saw in 2019. LULU should do well there. Spain will understand and respect them.