COMPANY BACKGROUND
lululemon\xe2\x80\x99s purpose, to elevate the world by realizing the full potential within every one of us, is as dynamic as the company\xe2\x80\x99s history and current momentum.
Founded in Vancouver in 1998 with the intent to bring technical athletic fabrics to yoga, lululemon\xe2\x80\x99s first office was a product design studio by day turned yoga studio at night. What was then a very practical solution to paying the rent has ultimately come to define what differentiates lululemon. What has made the company wildly successful has been its steadfast focus on empowering its stores to become community hubs for lululemon\xe2\x80\x99s consumers (Guests) to live the Sweatlife\xe2\x80\x94a combination of sweating, growing and connecting together\xe2\x80\x94as well as participate in lululemon sweaty activities.
Today, lululemon is a publicly traded (LULU) $8.1B global business with more than 30,000+ employees and over 650+ stores across four continents and 17 countries. lululemon\xe2\x80\x99s products include Performance Apparel for women and men (pants, shorts, tops, jackets) for healthy activities such as yoga, running, training, and most other sweaty pursuits, On the Move Apparel (OTM) for women and men (RTW tops, bottoms, outerwear, knits and wovens), Accessories (bags, socks, underwear, yoga mats/equipment, and water bottles), and most recently, footwear.
2022 was an exceptional year from a product newness and innovation standpoint, fueled by the Science of Feel with women\xe2\x80\x99s revenue increasing 30%, men\xe2\x80\x99s growing 22%, and accessories up 70%, versus 2021. Our results were driven by expansion within our core categories with the launch of our Senseknit fabric technology and cold weather run styles, and we grew our Play categories with our golf, tennis, and hike capsules. And while footwear remains a test and learn for us, we\xe2\x80\x99re pleased with our results and are thrilled to bring head-to-toe solutions to our guests.
In the fourth quarter of 2022, net revenue increased 30% to $2.8 billion, and we saw a nearly 30% increase in transactions by new guests, and a more than 35% increase in transactions by existing guests. Ecomm increased 39% compared to the same quarter last year.
The power of our brand translated to growth across regions in 2022\xe2\x80\x94North America grew 29% and International increased 35% compared to last year. As the impacts of COVID-19 normalize, we expect our momentum to accelerate, and we are excited for the opportunity in China in 2023 and beyond. In Q4, revenue in China increased over 30% versus the same period last year. We opened 29 new stores this year, our largest annual number ever in China Mainland.
Inclusion & Diversity / lululemon has made a series of commitments to ensure the company fully reflects the communities it serves and has established its IDEA team, which stands for Inclusion, Diversity, Equity and Action. The company stands with employees, ambassadors and guests around the world who have been deeply impacted by the acts of violence, xenophobia and racism. Through commitment from the senior leadership team, dedicated resources, company-wide impact, sustainable HR programs, in-depth reviews and real accountability, the organization is focused on driving positive change in its communities every day.
Power of Three x2 / Calvin McDonald (CEO), the Senior Leadership Team (SLT) and Board remain committed to growth. We recently announced our next five-year growth plan, which builds upon the success of the Power of Three. Our plan calls for doubling our Men\xe2\x80\x99s business while delivering double-digit growth in Women\xe2\x80\x99s, doubling our digital business while also achieving double-digit growth in stores, and quadrupling our International business. And we intend to double our total revenue - from $6.25B to $12.5B - by the end of 2026, with an annual EPS growth greater than sales growth.
Impact / In 2021, lululemon also advanced an Impact Agenda and multi-year commitments to drive meaningful, positive change in the world. lululemon made inspiring progress across our three core pillars\xe2\x80\x94Be Human, Be Well, and Be Planet\xe2\x80\x94addressing pressing social and environmental issues that impact our people, communities, and the planet.
DESIGN AS A DRIVER OF lululemon
Sun Choe, lululemon\xe2\x80\x99s Chief Product Officer, wants lululemon to do what she believes no other retailer has done well before: to continue to exceed guest expectations on both the solves and quality of product, as the volume of product designed and distributed grows exponentially and globally. Thoughtful design and a timeless assortment will be critical to ensuring lululemon grows in a way that doesn\xe2\x80\x99t negatively impact quality.
From its inception, lululemon has always sought to create clothes that are both functional, and technically beautiful. As designers, we embrace the notion that "why" we make something is just as important as "what" we are making. Our design philosophy is grounded in creating well-crafted clothing that feels great to wear, fits perfectly and provides a solution.
An Opportunity to Redefine How The World Dresses
Just as our black stretchy pants ultimately led to the creation of the athleisure wear category and an entirely new way of dressing, we believe lululemon has the global reach and reputation to do it again\xe2\x80\xa6
We believe we are experiencing a moment in time where women and men all over the world are reconsidering what they want to wear. Fundamentally, reevaluating the role clothing will play in helping them live the lives they want to live. We seek a VP, Design, Women\xe2\x80\x99s to inspire a talented team of designers & in partnership with our Men\xe2\x80\x99s, Accessories, Footwear, & Concepts teams, to build a singular and blended view of "their new wardrobe" across performance and lifestyle apparel that is distinctly lululemon but has never been imagined or crafted before.
TITLE
VP, Design, Women\xe2\x80\x99s
LOCATION
The VP, Design, Women\xe2\x80\x99s will be based in Vancouver, BC.
REPORTING STRUCTURE
Reporting + Direct Reports: The role is a direct report into our Global Creative Director and will oversee a team of 35+ FTEs across Women\xe2\x80\x99s Design.
Peer Relationships: The VP, Design Women\xe2\x80\x99s will sit on the Creative Design Leadership Team and work closely with all of its members including Head of Men\xe2\x80\x99s Design, Head of Concepts, Head of Accessories Design, Head of Special Projects Design and Head of Footwear Design.
OVERSIGHT AND RESPONSIBILITIES
MNCJobz.com will not be responsible for any payment made to a third-party. All Terms of Use are applicable.