Lululemon Athletica is known as a multi-national athletic apparel retailer based in Delaware. The company was established in 1998 as a yoga wear retailer, subsequently expanding into sportswear, accessories, lifestyle apparel, and personal care items. They have 491 stores worldwide and also sell online.
Lululemon Net Worth
Lululemon Athletica’s estimated net worth is $4.2 billion, according to Forbes.
Chip Wilson founded Lululemon in 1998 in Vancouver, British Columbia, and opened the company’s first store in November 2000. By using many L’s in the name, Wilson intended to appeal to Japanese buyers, who often find it difficult to pronounce the letter. Later, he commented that it was “funny to watch (the Japanese) try and say it”.
In July 2007, the company launched its initial public offering, selling 18.2 million shares to raise $327.6 million. Then, former Starbucks co-president Christine Day became CEO of the company in 2008.
The company designs and sells athletic apparel, like yoga pants,tops, shorts, jackets, sweaters and undergarments, along with hair accessories, yoga mats, bags, water bottles, and products for personal care, namely dry shampoo and deodorant. Initially, Lululemon became popular because of their leggings.
In 2005, Lululemon created its own fabric, Luon, with a higher proportion of nylon microfiber than average. The company has since developed a variety of fabrics, such as compression fabrics and moisture-wicking fabrics.