VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica, inc. (NASDAQ: LULU; TSX: LLL), the yoga-inspired
athletic apparel company, has come full circle and is settling in
Kitsilano, the Vancouver community where it all started. It was
announced today that the company expects to complete the purchase of its
Global Store Support Centre, located at 1818 Cornwall Avenue, on or
around March 1, 2011, subject to the satisfaction of certain closing
conditions.
lululemon's Global Store Support Centre located at 1818 Cornwall Avenue, in Vancouver's beautiful Kitsilano community. (Photo: Business Wire)
The building is 130,000 square feet; approximately 70,000 square feet
have been occupied by more than 300 lululemon athletica employees since
late Fall 2010.
"Kits has always been our home and we are thrilled that it once again
will be," said Christine Day, lululemon athletica CEO. "To work in one
of the most beautiful communities in Vancouver - within walking distance
to amazing yoga studios, fitness facilities, the Seawall and beautiful
beaches - is what inspires us every day."
1818 Cornwall - lululemon's corporate headquarters - is located at the
base of the Burrard Street Bridge, overlooking Kitsilano Beach and the
North Shore mountains. The building originally operated as a bottling
plant and was converted into an office building in the 1980s.
"Man, it feels good to be back! This is where it all started for us with
our first store on West 4th," said Chip Wilson, lululemon
chairman and founder. "This is where we belong and this is where we plan
to stay."
About lululemon athletica
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live longer,
healthier and more fun lives. By producing products that help keep
people active and stress free, lululemon believes that the world will be
a better place. Setting the bar in technical fabrics and functional
designs, lululemon works with yogis and athletes in local communities
for continuous research and product feedback. For more information,
visit www.lululemon.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that involve risks, uncertainties
and assumptions, such as statements regarding our intent to purchase
certain real property and our expectations as to where our corporate
headquarters will be located in the future. In many cases, you can
identify forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "outlook," "believes,"
"intends," "estimates," "predicts," "potential" or the negative of these
terms or other comparable terminology. These forward-looking statements
are based on management's current expectations but they involve a number
of risks and uncertainties. Actual results and the timing of events
could differ materially from those anticipated in the forward-looking
statements as a result of risks and uncertainties, which include,
without limitation: the possibility that we may not be able to manage
operations at our current size or manage growth effectively; risks that
consumer spending may continue to decline and that U.S. and global
macroeconomic conditions may worsen; the possibility that levels of
comparable-store sales or average sales per square foot will decline;
the possibility that we may not be able to successfully expand in the
United States and other new markets; increased competition causing us to
reduce the prices of our products or to increase significantly our
marketing efforts in order to avoid losing market share; the possibility
that we may not be able to continually innovate and provide our
consumers with improved products; the possibility that our suppliers or
manufacturers may not produce or deliver our products in a timely or
cost-effective manner; and other risk factors detailed in our Annual
Report on Form 10-K for the fiscal year ended January 31, 2010 filed
with the Securities and Exchange Commission and available at www.sec.gov.
You are urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not to
place undue reliance on such forward-looking statements, which are
qualified in their entirety by these cautionary statements. The
forward-looking statements made herein speak only as of the date of this
press release and the company undertakes no obligation to publicly
update such forward-looking statements to reflect subsequent events or
circumstances.
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Source: lululemon athletica, inc.