Lululemon UK profits soar, brand launches podcast
Canadian athleisure giant Lululemon has filed its UK accounts and the company’s sales and profits have been soaring as the gym-to-street trend shows no signs of running out of steam.
The company’s UK operation saw its sales rising 38% year-on-year in the 12 months to January 31, reaching £40.8 million. And profits after tax rose even faster with a 42% leap, albeit only to a modest £1.2 million.
The sales rise came not only the back of the athleisure trend but also as the firm expanded its retail footprint with new stores in Guildford and Manchester, as well as a concession in the Selfridges London flagship. This also saw it increasing its employee count from 250 up to 279.
It’s a shame that the company didn’t have much more to say about its operations in the UK, although it did list the oncoming Brexit as one of its potential risks. The company said it’s monitoring the negotiations and “mitigation plans have been developed and implemented to manage [the] potential impact.”
Lululemon’s Canada-based parent has recovered from a downturn a few years ago and is riding high again as one of the key brands in its sector.
The company is marketing the brand heavily and this week launched into the podcast arena with a new podcast called Sweatlife in collaboration with Verizon Media’s women-centric subsidiary Makers. It focuses on physical and mental wellness.
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