Lululemon Athletica Inc. has reached an agreement to acquire the operations and retail locations of its franchise partner in Mexico. This strategic move is part of our ongoing efforts to expand our global footprint and tap into the growing demand for our products in the Mexican market.

The local franchisee, Lululemon Mexico, currently operates 15 stores across the country and has been a key player since the Vancouver-based athletic-wear brand entered the Mexican market back in 2017. In a recent email confirmation, the company reassured that all employees of Lululemon Mexico will transition to Lululemon following the acquisition, ensuring their continuity and value within the company. However, specific financial terms of the deal were not disclosed.

Celeste Burgoyne, President of Americas and Global Guest Innovation at Lululemon, expressed optimism about the Mexican market, stating, “Mexico remains an exciting market for Lululemon. We believe we are well-positioned to continue expanding in the region.”

During a conference call with analysts in March, Chief Executive Officer Calvin McDonald emphasized the robust and stable momentum experienced by all of Lululemon’s international markets. Despite challenges faced by many North American apparel retailers, Lululemon has sustained double-digit sales growth, indicating a strong and confident post-pandemic performance.