Lululemon's Strong Q1 Growth in China

Lululemon's Strong Q1 Growth in China

Ling Wei Feng
1 min read

Lululemon's Q1 2024 Global Revenue Reaches $22.09 Billion, Falls Short of Expectations

Lululemon, the premium athletic apparel brand, experienced substantial growth in China, with a 44.46% increase in revenue from the region. However, the company's total revenue from China remains relatively small at 13.8%, compared to the dominant 73.4% contribution from the Americas. Lululemon's first-quarter revenue stood at $22.09 billion, reflecting a 10.40% increase year-over-year, but falling short of the expected $24.5 billion. The net income for the period reached $3.21 billion, marking a 10.68% increase from the previous year. As part of its strategic vision, the management aims to elevate international revenues to contribute to 50% of the total sales.

Key Takeaways

  • Lululemon's Q1 2024 revenue was $22.09 billion, up 10.40%, but below analyst expectations.
  • Net profit for the quarter rose 10.68% to $3.21 billion.
  • China experienced the fastest growth, with a 44.46% revenue increase to $3.04 billion.
  • Despite rapid expansion, China's revenue contribution was only 13.8% as opposed to the Americas' 73.4%.
  • Lululemon plans to raise international business revenue contribution to 50%.


Lululemon's impressive growth in China, despite its modest share of global revenue, reveals the untapped potential of the market. The brand's emphasis on international expansion, particularly in China, seeks to diversify revenue streams and lessen reliance on the Americas. However, navigating economic fluctuations and cultural subtleties may pose short-term challenges. Succeeding in localizing the brand could significantly enhance Lululemon's global market share, influencing investors and competitors. Notably, falling short of revenue expectations underscores the need for strategic adjustments to effectively meet market demands.

Did You Know?

  • Fiscal Report: A fiscal report is an official financial document detailing a company's performance over a specific period, offering insights into its financial health.
  • Year-over-Year (YoY): This comparison method reveals growth or decline between the same period in consecutive years.
  • Net Income: This essential profitability indicator reflects a company's profits after deducting all expenses from total revenue, aiding investors in assessing its performance and health.

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