Vp Strategic Sales
3 days ago
COMPANY BACKGROUND
lululemon’s purpose - to elevate the world by realizing the full potential within every one of us - is as dynamic as the company’s history and current momentum.
Founded in Vancouver in 1998 with the intent to bring technical athletic fabrics to yoga, lululemon’s first office was a product design studio by day turned yoga studio at night. What was then a very practical solution to paying the rent has ultimately come to define what differentiates lululemon. What has made the company wildly successful has been its steadfast focus on empowering its stores to become community hubs for lululemon’s consumers (Guests) to live the Sweatlife—a combination of sweating, growing, and connecting together—as well as participate in lululemon sweaty activities.
Today, lululemon is a publicly traded (LULU) $9.6B global business with more than 30,000+ employees and 710+ stores across four continents and 25 regions. lululemon’s products include Performance Apparel for women and men (pants, shorts, tops, jackets) for healthy activities such as yoga, running, training, and most other sweaty pursuits, Casual Apparel (formerly On The Move) for women and men (RTW tops, bottoms, outerwear, knits and wovens), Accessories (bags, socks, underwear, yoga mats/equipment, and water bottles), and most recently, footwear.
The power of our brand translated to growth across regions in 2023, with revenue in the Americas increasing 12%, China Mainland up 67%, and other international markets combined growing 43%, compared to 2022. We have an impressive funnel of innovation, our opportunity to increase our brand awareness remains significant, and we will continue to grow and optimize our store base both within the Americas and around the world.
Our Essentials membership program in North America has grown to more than 17 million members in the first year, and we were proud to see the China Mainland business approach the $1B mark in 2023, as the region celebrated their 10-year anniversary. In 2023, we entered new markets in EMEA and APAC, and ended FY23 with 711 company-operated stores worldwide, adding 56 net new lululemon stores since Q4 of 2022.
In the fourth quarter of 2023, net revenue increased 16% to $3.2 billion and earnings per share increased 20% versus last year to $5.29. North American revenue increased by 9% and international by 54% both versus last year. In Q2, our women’s revenue increased 13% and men’s by 15%, and our store revenue and digital revenue increased by 15% and 17%, respectively.
Our Impact / Impact is an essential part of our culture and underpins our business strategy. Guided by our Impact Agenda, we approach this work holistically through three pillars that address the interconnection of our products, people, the communities we serve, and our planet.
- Be Human / We are taking thoughtful steps towards a more equitable and inclusive future. We are committed to reflecting the diversity of communities we serve and operate in through our IDEA work, investing in our people with full pay equity, holistic benefit offerings, and leadership development, as well as supporting and empowering the makers across the supply chain.
- Be Well / As a global company committed to helping people feel their best, we are leveraging our business, expertise, resources, and communities to invest in and advocate for the wellbeing of those most impacted by systemic inequity around the world. Our goal is to provide access to wellbeing tools and resources to more than 10 million people by 2025.
- Be Planet / To create a healthier planet, we are innovating to create more sustainable materials and working to advance a circular ecosystem. Across our value chain, we are also reducing our carbon, waste, and water footprint, and improving chemicals management through science-based targets.
TITLE
Vice President, Strategic Sales
LOCATION
The VP, Strategic Sales will be based in Vancouver, Canada.
REPORTING STRUCTURE
**Reporting + Direct Reports**: The role is a direct report into our Senior Vice President, North America Retail, and will oversee a team of 50+ FTEs.
**Peer Relationships**: The VP, Strategic Sales will sit on the North America Retail Leadership Team and work closely with all its members including VP NA Retail West, VP NA Retail East, and VP Retail Operations. Also working cross-functionally, this leader will partner closely with Brand, Merchandising, Planning, Fulfillment & Logistics, Finance, and Legal.
JOB SUMMARY
The VP, Strategic Sales will lead lululemon’s North America Strategic Sales (Wholesale) business, overseeing all wholesale selling channels. This VP will be leveraged to grow Strategic Sales channels across North America and collaborate with global leaders as we look to build out our International Strategic Sales channels. Strategic Sales is seen as a critical growth driver for lululemon’s 2030 goals and expects to see significant growth this year and over the years to come.
OVER
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