Lululemon Athletica, a brand famous for flogging leggings for over $100 apiece, has long been in vogue among investors as well as fashionistas. Over the past decade the “athleisure” firm has reported operating margins of 15-25%, well ahead of rivals, in part owing to the vast share of sales it makes directly to customers. Its sales per square foot of shop space have reached around $1,500 a year, also far outstripping other retailers. Lululemon’s stretchy trousers and chic sweatshirts have married comfort and fashion for a new breed of home workers who wanted to look sharp but relaxed on conference calls.
in Business
