Lululemon

Lululemon was founded in 1998 by Chip Wilson in Vancouver, with its first standalone store opening in November 2000. The company initially focused on selling yoga pants and other yoga wear.

In November 2000, Lululemon Athletica opened its first real store in the beach area of Vancouver called Kitsilano. This marked a significant milestone for the company.

The exact details of this event are not mentioned in the input. However, it seems that Lululemon Athletica was recognized as the Innovative Retailer of the Year in 2003.

On January 1, 2004, Lululemon expanded its operations outside of Canada.

On June 12, 2004, the first Lululemon store was opened in Canada's capital, Ottawa.

Lululemon opened its first store in Japan in 2006, marking a significant expansion into the Asian market.

On July 27, 2007, Lululemon went public via an initial public offering (IPO) on the NASDAQ at $18 per share.

Lululemon closed its four stores in Japan and shifted its focus to the North American market.

Christine Day replaced Robert Meers as the CEO of the company.

Lululemon opened a store specifically catering to children aged 6-12.

Lululemon issued a recall for their reusable bags due to high levels of lead content.

The company encountered a recall in 2011 due to manufacturing defects in their yoga pants, which represented over 17% of their revenue.

In 2012, Chip Wilson resigned from his position as chief innovation and branding officer at Lululemon.

Lululemon issued a recall for all see-through yoga pants.

Christine Day stepped down as CEO after the Yoga Pant recall, incurring a cost of $67 million.

In 2014, Lululemon pushed more into menswear and invested in digital sales.

Lululemon recently changed the prices of its iconic women's yoga leggings, leading to customer dissatisfaction and accusations of unjustified price increase.

In June 2016, Chip Wilson published an open letter to shareholders criticizing the company's direction and market share loss to competitors like Nike and Under Armour.

In 2018, Laurent Potdevin resigned as CEO and from the company's board due to misconduct related to a relationship he was having with a then-employee and later contractor.

Calvin McDonald assumed the role of CEO of Lululemon in 2018, succeeding Laurent Potdevin. He is responsible for leading the company's ongoing growth and providing strategic direction.

In 2019, Lululemon introduced the 'Power of Three' marketing strategy, focusing on product innovation, omni guest experience, and market expansion.

MIRROR was formally acquired by Lululemon on June 29, 2020 for $500 million and was rebranded as lululemon Studio, which now offers thousands of online workout classes for its customers.

In September 2022, yoga teachers and students demanded Lululemon to transition to 100% renewable energy by 2030, citing concerns about the firm's energy reliance on coal production.

In May 2023, Lululemon opened its first stores in Spain, marking a significant milestone in its global expansion strategy.