Lululemon plans to invest $75 million into “equitable wellbeing programs” by 2025. The investment is part of the company’s first “impact agenda,” which aims to make it a more sustainable business and minimize its environmental impact.
Along with the investment, Lululemon will also expand to full gender pay equity and make 100% of its products with sustainable materials by 2030.
The company’s revenues were up 2% year-over-year to $902.9 million as consumers have stocked up on workout apparel and yoga accessories. Lululemon is also looking to the connected fitness space for growth following its acquisition of Mirror for $500 million in June. Its shares are up nearly 40% year-to-date.