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Lululemon makes its retail debut in Spain with its first store in Barcelona
Lululemon, the Canadian athletic apparel brand, has launched the first step of its retail expansion in Spain with the opening of a store in Barcelona. The 225-square-meter boutique is located at 65 Paseo de Gracia.
The retail space carries the brand's various men's and women's product lines, including apparel, footwear and accessories.
"We are excited about the opening of our first store in Catalonia. We have been aware of the city's potential for some time now and are delighted with the recent inauguration. We are looking forward to engaging with the people of Barcelona," said André Maestrini, executive vice president international at Lululemon.
The athleisure brand, which announced its entry into the Spanish market a few weeks ago, launched its online shop in the country last August and, in addition to its recently inaugurated boutique in Barcelona, will also be opening another one in Madrid in September, which is scheduled to open on September 16 at 30 Calle de Serrano.
As a result of these developments, the brand has positioned Spain as one of its most important markets in Europe. "Lululemon is entering Spain with plenty of ground to explore and with the company's growth plan in mind, which includes quadrupling its international revenues from 2021 levels by the end of 2026," the firm said last July.
With a retail network of 575 stores (of which only about 40 are located in Europe) and a European online store adapted to the local languages of nine different countries, Lululemon increased its international net revenues by 35% in the second quarter of FY2022 compared to the same period of the previous year. Driven by these results, it raised its full-year forecast to between $7.77 billion and $7.94 billion (versus $7.71-$7.71 billion in its previous estimate), an amount similar to the euro exchange rate.
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