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“We’re ready to build upon our success and embark on the next phase of growth at lululemon to realize the full potential of our brand,” McDonald said. “We believe lululemon has a unique opportunity to push beyond traditional expectations to develop innovative products and become a fully experiential brand that creates compelling experiences for guests who want to completely live into the sweatlife.”
Lululemon is currently piloting a membership program and plans to introduce new products.
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Lululemon is a luxury athletic apparel retailer, with women’s running tights averaging around $100. McDonald recently told the Wall Street Journal that the company has no plans to lower its prices despite many cheaper alternatives entering the market since Lululemon sprouted into a multibillion-dollar company.
Last year the company’s net revenues increased 24 percent to $3.3 billion and same-store sales surged 18 percent.
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