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Published
Aug 8, 2014
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Lululemon: Advent International returns as investor

Published
Aug 8, 2014

North American observers have felt for some time that something had to change in terms of ownership of yoga brand Lululemon, which is growing to the point of becoming a major prey for investors. Nike and VF Corp were mentioned as possible predators, although that's not quite what happened.

Image: Lululemon


On Thursday, August 7, Lululemon Athletica and Advent International announced that Lululemon founder Dennis Wilson was selling half of his stake, or 13.85% of the company to the private equity firm. The transaction amounted to 845 million dollars (631 million euros).

For Advent, it’s a bit of déjà vu. The private equity firm, whose European investments include a stake in Gérard Darel and the German perfume retailer Douglas, had already invested in Lululemon 2005 only to sell its stake in June 2009.

As part of the deal, two representatives from the firm will join the yoga and fitness company’s board of directors.

In the first quarter of its fiscal year ending on May 4, Lululemon Athletica recorded an 11% increase of in sales compared to the first quarter of last year to 284 million euros. For its entire financial year, the brand expects sales of a little over 1.3 billion euros.

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