Lululemon Athletica is a brand that was formed to sell Yoga wear. It was founded by Chip Wilson in 1998 at Vancouver, British Columbia. Lululemon Athletica sold its first yoga pants in the same year it was formed. Chip Wilson deliberately created the name to have many L’s in it. As the same would sound western to Japanese buyers who often have difficulty in pronouncing the letter.
Lululemon Athletica’s initial public offering was made in July 2007 to raise $327.6 million by selling 18.2 million shares. Christine Day, who is the former co-president of Starbucks became the chief executive officer of Lululemon Athletica in 2008. In 2013, Lululemon Athletica made its third consecutive appearance on Fortune’s Fastest- Growing Companies. In December 2013, the chairman of Lululemon Athletica announced his resignation. By then the president of Tom Shoes, Laurent Potdevin became the CEO (Chief Executive Officer).
Lululemon Athletica opened its first store in 2014 in Europe as a flagship shop in Covent Garden, London. In 2015, Wilson announced his resignation and then Michael Casey replaced him for the post. In 2018, Laurent Potdevin resigned as the CEO of the Lululemon Athletica due to misconduct. Lululemon announced an investment mirror in 2019. It announced a fitness startup that sells an interactive mirror with a camera and speakers for at-home workouts. The company then planned to create new content for the device, starting with meditation classes. In June 2020, Lululemon also announced a $500 million investment deal to purchase a mirror that capitalises on a growing trend of people conducting virtual workouts at home instead of going to gyms, especially due to the Covid-19 pandemic.
Since then Lululemon has expanded to sell its products internationally in 460 stores worldwide online and offline as well. Other than Yoga wear Lululemon Athletica has then expanded to sell a variety of athletic wear, including performance shirts, pants, shorts and also lifestyle apparel and yoga accessories.
When it comes to the pay scale, Lululemon pays an average pay of $14.27/hour to warehouse workers. When it comes to assistant store manager Lululemon pays $21.12/hour. The average salary paid by Lululemon for sales associates and warehouse workers ranges from approximately $25,000 per year to $40,000 per year.
Other than these, there are various other posts available to work at Lululemon. Posts such as cashier, sales associate, seamstress, merchandise handler and many more are offered by Lululemon Athletica.
Other than great pay, Lululemon Athletica also provides many other benefits which are mentioned below:
Employees Deep Discount
Employees working at Lululemon are given deep discounts on the company’s products. Part- time employees are given a 40% discount while full-time employees are given a 60% discount. Health Benefits:
Many of the Lululemon employees have given positive reviews about the health benefits provided. Lululemon understands that health should be a priority for every person. For which it provides various health benefits to its employees such as free gym membership, health checkups, excellent health and life insurances, including vision and dental insurance as well.
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Fun Work Environment
Lululemon is well-known for its fun work environment. It is a company that cares for its employees and guests as well. It has open and honest management and just a fun team to work in general.
Lululemon employees have to wear athletic attire or anything else they want to wear. Employees are also allowed to wear casual dresses on some special occasions.
Provides Importance To Education
Lululemon believes that education is important. It believes that its employees should keep on growing. Lululemon Athletica provides educational benefits to its employees who want to get educated while working. It also provides continuous training to all employees for making them grow and get them promoted. Sales employees at Lululemon are not addressed as salesmen and instead are addressed as educators. As they are well trained and can explain the technical detail of each item.
Flexible Work Schedule
Lululemon provides a flexible work schedule for its employees. The same is provided by giving services such as part-time jobs, flexible work hours, work from home options and much more.
Lululemon provides various paid leaves to its employees such as sick leaves, casual leaves, vacations and much more.
Every employee needs to have financial security, the same is understood by Lululemon. As it doesn’t only end up by providing salary to its employees but also provides various other financial benefits to them. Financial benefits such as group commission, generous store discounts, retirement benefits, 401(k) retirement plans and much more to its employees.
Therefore, these are the various details of the company Lululemon Athletica and the benefits provided by Lululemon Athletica to its employees. In 2017, Lululemon Athletica was also awarded as one of the most fun environment providing companies in the world.