Clothing from Lululemon The company has a new goal of doubling sales

Lululemon Athletica Inc. (LULU), a company that makes athletic wear, was able to reach the goals it set for itself four years ago a few quarters early. Now, the company expects another doubling of sales, even though inflation is high and a recession is coming. Lululemon Athletica’s management started the Power of Three programs in 2018 to double sales. The name chosen showed that the main focus would be in three different places. Plans called for online sales to double, men’s clothing sales to double, and sales outside North America to quadruple by 2023.

At the start of 2022, Lululemon Athletica said it had already reached its first two goals. By the end of this year, international sales goals will be a few quarters ahead of schedule. Lululemon Athletica is announcing new goals as part of the Power of Three x2 programs. According to this plan, sales should grow from $6.25 billion in 2021 to $12.5 billion by the end of 2026. The new strategy emphasizes the same things: online sales, a wide range of products for men, and sales in other countries. Opening stores in Spain shows that the company wants to sell on the international market. In September, customers in Barcelona and Madrid will be able to shop at Lululemon Athletica stores, so by the end of next month, they will be able to shop online at a store that fits their needs.

The people in charge of Lululemon Athletica think that the company can handle economic uncertainty, so they don’t plan to change the plan to make it smaller. The company also feels that it is strengthening its position as the market leader in sportswear. It’s important to note that Lululemon Athletica increased sales by 27% from last year to the same time this year. Even though there were problems with the supply chain and uncertainty about the economy, the company can work in challenging market conditions.