lululemon athletica inc. (TSX: LLL, NASDAQ: LULU) (pronounced /ˌluːluːˈlɛmən/ , with the last two syllables pronounced like "lemon") — self-described as a yoga-inspired athletic apparel company — produces a clothing line and runs international clothing-stores from its company base in Vancouver, British Columbia, Canada.
Company history
Dennis "Chip" Wilson founded lululemon athletica (usually referred to simply as "lululemon", "lulu") in 1998 in response to increased female participation in sports and in accordance with his belief in yoga as the optimal way to maintain athletic excellence into an advanced age. Wilson had previously made a foray into the sportswear business by setting up Westbeach Sports in 1979.
Wilson opened the first lululemon store in the Vancouver neighbourhood of Kitsilano: it included a design-studio/retail-store. It also shared space with a fledgling yoga-studio. As of August 2008, there were 40 lululemon athletica stores across Canada, 38 stores and showrooms in the United States and seven stores and showrooms in Australia. The company continues to expand: it expects to open approximately 60 locations across Canada and the United States over the next two years.
Lululemon has a subsidiary company called OQOQO which focuses on clothing made from sustainable fabrics. OQOQO has a flagship store located in Vancouver and some OQOQO pieces are carried in lululemon stores across Canada and the US.
In September 2009, lululemon announced a new subsidiary to be known as ivivva athletica. The brand will initially target girls of age 6-12. The OQOQO stores in Vancouver and Victoria will be transitioned to the ivivva brand in time for the 2009 holiday season. The company will also launch the new brand in Calgary, AB. The store will be based in Market Mall. The existing lululemon store will be relocated within the mall and the existing store will be renovated for the the new brand. The OQOQO product line will be integrated into the lululemon product line.
In 2005, Advent International (partnered with Highland Capital Partners), a U.S. private equity firm, bought a 48% minority interest in lululemon for a reported CAD $225 million, and former Reebok chief executive officer Robert Meers became the new lululemon CEO. Wilson, the founder, now has 42% ownership, with retail-staff owning 10% in stocks and shares. The company formed a partnership with Descente of Japan to oversee lululemon's Japanese operations; however, in mid-2008, lululemon closed its Japanese operations (three stores) to focus on the North American market.
lululemon athletica announced an initial public offering in May 2007 and became a public company on July 27 , 2007. Chip Wilson rang the opening bell on the Nasdaq exchange in the United States that day .
The Retail Council of Canada recognized the company as the 2003 Innovative Retailer of the Year in its "small store" classification.
Originally marketed as yogawear, today the brand is best known by fans as very-well-fitting workout clothing that is more likely to be worn to and from the gym, on airplanes, and at home.
Corporate philosophy and practices
lululemon has its main factory in Vancouver, British Columbia, Canada. In 2004 production expanded outside Canada and currently takes place in factories in the United States, China, Israel, Taiwan, India, Thailand, Peru and Indonesia.
lululemon athletica offers free yoga-classes, health-benefits and growth-opportunities, etc., to its employees. Controversially, the company also pays for management-staff — and other employees who have worked for the company for over a year — to attend the Landmark Forum. The Cult Awareness and Information Centre has listed the Landmark Forum among psychotherapy cults, in a collection of "cults and isms". The contention that the Forum is "cult-like" has been aired in at least half a dozen newspaper articles over the last decade. Landmark vehemently rejects the cult label and "freely threatens or pursues lawsuits against those who call it one."\
Vitasea fabric controversy
In November 2007 The New York Times reported that it had commissioned laboratory-tests that failed to find significant differences in mineral-levels between cotton T-shirts and the fabric Vitasea, used by lululemon in some of its clothing-lines.
Following the publication of the NY Times article, lululemon commissioned a rush laboratory-test that it claimed confirmed the seaweed-content of its Vitasea line.
Lululemon subsequently agreed to remove all health claims from its seaweed-based products marketed in Canada, following a request from the Competition Bureau of Canada.
Footnotes
- ^ "Vancouver Enterprise Forum - Lululemon presentation" (pdf). 2006-02-28. Archived from the original on 2006-09-23 . http://web.archive.org/web/20060923162734/http://www.vef.org/presentations/KOPKEVEFPresentation28feb2006.pdf .
- ^ "lululemon athletica inc. Introduces ivivva athletica". The Financial Post . http://www.financialpost.com/markets/news-releases/story.html?id=1950487 . Retrieved 2009-09-10 .
- ^ "Dennis "Chip" Wilson, founder of Lululemon Athletica, presides over the opening bell". Nasdaq . http://www.nasdaq.com/reference/200707/market_open_072707.stm . Retrieved 2007-07-29 .
- ^ "Innovative Retailer of the Year". Retail Council of Canada . http://www.retailcouncil.org/awards/rcc/innovative/ . Retrieved 2006-08-15 . Link inaccessible as of 2007-09-13 .
- ^ CNW Group | CHATELAINE | Murder in Mexico: Chatelaine exclusive
- ^ Groenveld, Jan. "EST; The Forum; Landmark Education". CultHelp.info. Retrieved on October 23, 2008.
- ^ Jones, K. C. (December 1, 2006). "Landmark Drops Copyright Infringement Subpoenas On Google And Anonymous Critic: Landmark sought a subpoena to find out who posted hidden camera footage from an event held by the French branch of the organization". InformationWeek (United Business Media LLC) . http://www.informationweek.com/news/internet/showArticle.jhtml?articleID=196601049 . Retrieved 2008-12-05 .
- ^ * Bass, Alison (March 3, 1999). "The Forum: Cult or comfort?". The Boston Globe (The New York Times Company).
- Graham Rayman, "Suit Against Sperm-Bank Firm Claims Sexual Harassment and Cult-Like Behavior", Village Voice , 20 May 2008
- Christa D'Souza, "Sex Therapy", The Times (London), 13 July 2008, Features/Style p. 12
- Una Mullally and John Burke, "Labour senator promotes group classified in France as 'cult-like'", Sunday Tribune (Dublin), 31 July 2005, p.N1
- Amanda Scioscia, "Drive-thru Deliverance; It's not called est anymore, but you can still be ridicu
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