Lululemon mission statement is a technical athletic wear brand for yoga, jogging, training, and the majority of other sweating activities. Established in 1998 in Vancouver, Canada.
One of the leading sports gear companies with significant global appeal and demand is Lululemon Athletica Inc. Lululemon is reputed to advertise a full lifestyle rather than a product and offers a variety of sports gear, including performance shirts, shorts, and pants, lifestyle apparel, yoga pants, and accessories.
When Chip Wilson, a surfer, and snowboarder, attended a yoga session in Vancouver in 1998, he saw the need for sportswear composed of appropriate materials. That is when the business got its start as a nighttime yoga studio with a single studio design.
| Company | Lululemon Athletica, Inc. |
| CEO | Calvin Mcdonald |
| Founders | Chip Wilson |
| Year founded | 1998 |
| Number of Employees (2021) | 25,000 |
| Ticker Symbol | LULU |
| Type | Public |
| Annual Revenue(FY 2021) | $4.4 Billion |
| Profit |Net income (FY 2021) | $588 Million |
Table of Contents
The Beginning Was with Women’s Yoga Wear
- The first independent Lululemon store started in Vancouver’s Kitsilano district in the year 2000. The shop’s original focus was on women’s yoga attire. Wilson quickly realized the selection needed to be expanded after hearing from customers.
- The goal of Lululemon is to live a fit and healthy lifestyle. The business emphasizes several facets of healthy living that can be improved with its goods. Customers are invited to engage in a community, learn about healthy living, and practice mindfulness.
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Lululemon Mission Statement
- Lululemon mission statement is “To elevate the world from mediocrity to excellence,”. The corporation makes it plain in its statement that the experiences it wants its consumers to have come first, not how well-liked its goods are. Lululemon is incredibly passionate about bringing about long-lasting behavioral changes in everyone it comes in contact with, especially those who wear its technical clothing for sports, as indicated by the use of strong language in this statement.
Lululemon Mission Statement Analysis
- The company’s mission statement clearly states that it is committed to growing its global footprint. The business claims just under 500 international locations in places like Hong Kong and has a significant web presence. The business prioritizes innovation and ascent in addition to focusing on global recognition.
- A company’s true ideology, which informs all of its strategic processes, is revealed in its mission statement. However, Lululemon has a mantra instead of a typical mission statement that reads:
“To uplift the world by bringing out the best in each and every one of us.”
Lululemon Vision Statement
Additionally, the organization has a clear vision statement relating to its products and services. “To be the experimental brand that ignites the sweat life community via sweat, grow, and connect.”
- Nothing is typical at Lululemon. In every model the organization produces, the objectives and needs of a lengthy transformation are taken into consideration. can be measured by how expertly it carries out both its business ideas and its goods.The greater picture for Lululemon does not include volume or creating ground-breaking sales.
Core Values of Lululemon
Lululemon’s basic principles include “nurturing entrepreneurial spirit, taking personal responsibility, valuing connection, honesty and courage, and choosing pleasure”. The organization bases all of its decisions on these key principles in order to keep its stellar reputation with clients. These values provide Lululemon with an edge over all of its current competitors.
Core Value Analysis of Lululemon
- The company bases its basic beliefs on distinction and emphasizes adding value to promoting high-profile, healthy lifestyles. By providing a particular set of core principles, it aims to differentiate itself from its opponents.
Here, the guiding principles are:
- accepting individual responsibility
- promoting entrepreneurship
- acting responsibly and sincerely
