Lululemon is moving to Spain. On Tuesday, the Canadian athletic apparel, accessories and retailer revealed plans to open two stores in Spain this fall, as well as a Spanish e-commerce site this summer. The move marks the company’s first European expansion since pre-pandemic times in 2019.
Lululemon expanded its assortment to include a hike collection in June.
Courtesy Photo ASATO iiDA
“As a brand [that] 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 e-commerce site lululemon.es will launch later this month, followed by two stores — one in Madrid and one in Barcelona — in September. Lululemon has nearly 40 stores across eight countries in Europe: France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland and the U.K. Internationally, the retailer has 579 stores.
Lululemon unveiled its first collection of sneakers in March.
Courtesy Photo Jenna Saint Martin
Meanwhile, Lululemon continues to grow, improving on top and bottom lines in the most recent quarter, despite industrywide headwinds. In April, the retailer set its sights on a $12.5 billion revenue target by 2026. At the time, company executives said it also had plans to open new stores in Thailand and Italy within the next 12 months. In addition, a second experiential store will open in Houston later this year.
The firm is also deep in product expansion mode, releasing women’s sneakers; workout hijabs; hiking, golf and tennis apparel; bags made from mushrooms; resale, and at-home fitness, all during the pandemic. Lululemon is also the official outfitter of Team Canada (a role it will retain through 2028).
“We’re in the early innings of growth,” Calvin McDonald, Lululemon’s chief executive officer, told analysts in April.