Kitsilano-born yoga retailer Lululemon announced this morning that its profits more than doubled in the second quarter as the company generated a sharp jump in revenues.
Second-quarter revenue increased 56% to $152.2 Million and net profit for the second quarter was $21.8 Million compared to $9.2 Million for the same period last year.
Founded in 1998, the company which has now has 130 stores in Canada, the United States and Australia, started with one store on West 4th Avenue in Kitsilano.
After taking outside investment in 2005 and going public in 2007, Lululemon’s staff grew expontentially and their corporate head office moved East to Clark Drive in Vancouver.
Word on the street is that they’re coming home soon and will be taking over 70,000 square feet and multiple floors at 1818 Cornwall Avenue in the Chemetics building that is set for redevelopment.
Look out for a Lululemon logo to be the second thing you see when crossing the Burrard Bridge right after the Kitsilano log.
Last modified: September 11, 2010