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Lululemon Athletica announced plans to expand into Spain, marking the company’s first new European market since 2019.
With two Spanish stores and a local e-commerce site, the expansion will aid Lululemon’s goal of quadrupling its international revenue from 2021 to year-end 2026.
The company currently operates nearly 40 stores and three local-language sites across France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland, and the U.K., with shipping on its European site available to other countries.
- Spain’s e-commerce site will launch in late July.
- The first Spanish brick-and-mortar store will open their doors in Madrid and Barcelona in September.
The expansion is part of Lululemon’s “Power of Three x2” strategy, which states that it will reach $12.5 billion in revenue by 2026 — double its 2021 revenue. Along with continuing to invest in women’s apparel and the North American market, Lululemon is also putting emphasis on menswear and the international market.
Lululemoney
Lululemon reported a 32% year-over-year increase in first-quarter revenue to $1.6 billion and expects its full-year revenue to range between a record $7.6 billion and $7.7 billion. During the quarter, the company opened five stores, bringing its global total to 579.
The global sports and fitness clothing market is expected to reach $221.3 billion by 2026.
