Retail Dive: Lululemon to Exceed 2023 Revenue Goal Prediction by End of 2021

Sep 20, 2021

(Image source: The Guardian)

Athletic retailer, Lululemon is expecting to exceed its revenue goal for 2023 by the end of this year. It would be 2 years earlier than its previous projection stated in the Power of Three Growth plan.

“In 2020, we achieved our goal to double our e-commerce business. This year, we will likely achieve the goal we set to double our men’s business, and we remain on track to quadruple our international business by 2023, if not sooner,” according to CEO Calvin McDonald. 

Despite the speculation that Lululemon’s fast growth rate was boosted significantly by the pandemic, the company has proven otherwise with its growth this year.

In the last quarter, the net revenue grew 61% to $1.5 billion – from both e-commerce and brick-and-mortar stores. The retailer expects that the total annual revenue to reach over $6 billion, higher than the previous projection of $5 billion. 

Regarding the Mirror’s acquisition, CEO McDonald explained that it was necessary for the long-term growth of Lululemon. The brand intends to introduce Mirror to all customers in Canada soon. The athletic retailer can end its paid membership pilot with mirror as it’s hard to scale physical interactions but Mirror will provide visibility. 

However, investors and analysts are less convinced, especially when Lululemon disclosed very little information regarding this acquisition. This might be the only noise that Lululemon should solve in order to keep a clean and attractive profile in front of investors.

Source: Lululemon to surpass 2023 revenue goal by the end of the year

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.


Share this with your network

Also worth your time

Follow us on LinkedIn
Stay connected with us

Track your parcel here

More discoveries

Funding Roundup: Major Wins for CleverTap, Locad, ReturnLogic and Others

Aug 12, 2022

PR Newswire: Purolator Transforms Transportation Sector With Its New Sortation Facility in Toronto

Aug 12, 2022

Alcott Global Podcast: Carbon Neutrality in a Shipping Company

Aug 11, 2022

FreightWaves: FedEx to Apply Peak Season Surcharges As Early As September

Aug 11, 2022

E-Commerce Logistics Race in Latin America: Which Country Performed the Best in H1 2022?

Aug 10, 2022

The Business Times: A.P. Moller - Maersk Purchases Martin Bencher Group for US$61M

Aug 10, 2022

Funding Roundup: Bizongo, Homzmart, Vetted and Others Secured Early-Stage Deals

Aug 05, 2022

How Peak Season 2022 in Europe Might Look Like

Aug 05, 2022

TechCrunch: Shopify Invests $100 Million in a Marketing Automation Startup, Klaviyo

Aug 05, 2022

ITLN: Xpressbees Names Suraj Bangera as Senior Vice President of Cross-Border Business

Aug 04, 2022

Retail Dive: Amazon Launches Same-Day Shipping for Pacsun, GNC, SuperDry, and Diesel Customers

Aug 03, 2022

E-Commerce Logistics Race in Europe: Which Country Performed the Best in Q1 2022?

Aug 02, 2022

Supply Chain Dive: OnTrac and LaserShip Introduce Transcontinental Delivery Service to Prepare for Peak Season

Aug 02, 2022

Alcott Global Podcast: Importance of Supply Chain in Stationery Industry

Aug 01, 2022

Guest Post: 10 Ways Retailers Can Inspire Customers During Peak Season

Aug 01, 2022

Funding Roundup: Early Funding Rounds Secured by Cartona, DealCart and Others

Jul 29, 2022

Vogue: Glossier Launches into Wholesale Partnership with Sephora

Jul 29, 2022

E-Commerce Logistics Race 2022: Canada vs the United States

Jul 28, 2022

Macau Business: DHL Express Names Phil Corcoran as Australia’s Managing Director

Jul 28, 2022

Top E-Commerce Retailers in the United States 2022

Jul 27, 2022

Logistics Manager: InPost Now Has 4000 Parcel Lockers in the UK

Jul 27, 2022

Marketing Interactive: L'Oréal Appoints Kenny Ng as Regional E-Commerce Director

Jul 26, 2022

Guest Post: Why Logistics and Supply Chain Management Is Important

Jul 26, 2022

Guest Post: 7 Customer Retention Metrics That Allow You to Measure Customer Loyalty

Jul 25, 2022

Alcott Global Podcast: Revolutionizing Offshore Logistics

Jul 25, 2022