The business and retail sites of Lululemon Athletica Inc.’s franchise partner in Mexico will be acquired.
The Vancouver-based athletic clothing company entered the market in 2017, and since then, the local franchisee, Lululemon Mexico, has operated 15 locations throughout the nation. The company verified via email that all of its staff will be switching to Lululemon. It withheld financial details.
“Mexico remains an exciting market for Lululemon,” Celeste Burgoyne, president of Americas and global guest innovation at Lululemon, said in an emailed statement. “We believe we are well-positioned to continue expanding in the region.”
Chief Executive Officer Calvin McDonald said on a conference call with analysts in March that all its international markets have had “strong momentum” this quarter. The company has been on a strong post-pandemic run with double-digit sales growth despite declines at many North American apparel retailers.
