Lululemon: China is one of its key growth engines
Lululemon Athletica Inc, a global athletic apparel company, said China is one of its key growth engines for the international market, which is on track to be quadrupled in the next three years and a half through the expansion of physical stores, offering more innovative solutions for a wide range of age group and wear occasions, said the company's top executive.
Calvin McDonald, CEO of Lululemon, said during the 2023 Fortune China 500 Summit in Shanghai on Nov 9 that the company opened its 114th store on the mainland this year.
The CEO said: "China is a big part of our investment strategy, internationally, to quadruple our business over the next three and a half years. We have huge opportunities to just let more people know about Lululemon."
The executive said the company is very bullish on the balance between a digital and a physical platform.
"By being a direct-to-consumer brand, we can play better than anyone because the two really allow the guests the convenience and a frictionless shopping experience that they expect and want," he said.
