In December 2013, founder Chip Wilson announced his resignation as chairman, and that the president of TOMS Shoes, Laurent Potdevin, would become CEO. In 2013, the company made its third consecutive appearance on Fortune 's Fastest-Growing Companies list. Christine Day, a former co-president of Starbucks, became chief executive officer in 2008. The company's initial public offering was in July 2007, raising $327.6 million by selling 18.2 million shares. He later remarked that he found it "funny to watch try and say it". Wilson created the name to have many ' L's so that it would sound western to Japanese buyers, who often have difficulty pronouncing the letter, and that the name otherwise "means nothing". Lululemon was founded in 1998 by Chip Wilson in Vancouver, with its first standalone store opening in November 2000.
The company has 574 stores internationally and sells online. It was founded in 1998 as a retailer of yoga pants and other yoga wear, and has expanded to also sell athletic wear, lifestyle apparel, accessories, and personal care products. Lululemon athletica inc., commonly known as lululemon ( / ˌ l uː l u ˈ l ɛ m ə n/ styled in all lowercase ), is a Canadian multinational athletic apparel retailer headquartered in British Columbia and incorporated in Delaware, United States.
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