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Lululemon to open Sydney flagship store

lululemon

Canadian sportswear company Lululemon plans to open a new Sydney flagship store, with trading set to commence this July.

SEE ALSO : Lululemon announces financial results

Located in Sydney’s Brookfield Place complex, situated along the city’s George Street
precinct, the new store is the athleisurewear brand’s first multi-level location to open in
Australia, making it the largest for the North American brand in Australia and New Zealand.

“As the largest store in our Australia and NZ retail portfolio, Brookfield Place presents anew and exciting home for us to connect with our Sydney CBD community,” said Lululemon ANZ managing director, Paul Tinkler.

“Sydney has been an important and much-loved market for Lululemon for many years, and our involvement in the Brookfield Properties development is an incredible step forward for our business. We can’t wait to open our doors later this year,” continued Tinkler.

Spanning 585 square metres of retail space over two floors, the Lululemon flagship store will occupy the ground level of the multi-use precinct, Brookfield Place, which is located at the entrance of Wynyard train station. It is the first retailer to be announced for the US$1.52 billion commercial and retail precinct, joining already announced tenants Allianz Insurance and the National Australia Bank.

“We are thrilled to see Lululemon sign on to Brookfield Place Sydney and help transform the historic Wynyard precinct into the newest, sought-after retail location,” said Brookfield Place national retail director, Bridget Fea.

“It is wonderful to see this innovative and large-scale project in its final stages,” added Fea.

SEE ALSO : Lululemon focuses on information sharing

In its most recent trading update on March 31, Vancouver-based Lululemon reported fourth-quarter revenues reached US$1.7 billion, up 24%, compared to $1.4 billion in the prior-year period. The increase came on the back of strong direct-to-consumer sales, which almost doubled during the three-month period. The company’s international sales, which includes the APAC region, rose 47%, it said.

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