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Lululemon sees China revenue leap

Lululemon released its financial report for the fourth quarter and FY 2023 on March 22. For the 2023 fiscal year, Lululemon’s global net revenue was $9.6 billion, a year-on-year increase of 19%; net profit attributable to company shareholders was $1.55 billion, up 81.33% YoY. Focusing on the Chinese market, Lululemon’s mainland China business achieved a net revenue of $150.63 million (964 million RMB) in FY 2023, a year-on-year increase of 67%, marking the highest growth rate in nearly three years, with Q4 growth reaching 78%. By the end of the 2023 fiscal year, Lululemon had 127 stores in mainland China.

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