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Lululemon remains confident about China growth

Sportswear brand Lululemon has said it remains confident about its long-term opportunities in China despite the closure of most of its stores in the country due… View Article

SPORTS & LEISURE

Lululemon remains confident about China growth

Sportswear brand Lululemon has said it remains confident about its long-term opportunities in China despite the closure of most of its stores in the country due to the coronavirus.

In a statement, the company said it is continuing to work closely with local authorities to prioritise the safety of its people and guests there.

Following guidance from local authorities, the majority of Lululemon’s 38 stores in China have been closed since 3 February while some are reducing their opening hours. The company’s online business has continued to operate as normal.

Calvin McDonald, Lululemon chief executive, said: “We’re inspired by the resilience and commitment of our team in China as we navigate the emerging impacts of the coronavirus. The safety of our people is our highest priority, and we are adjusting store operations based upon the recommendations of local authorities.

“Despite the current disruption to our growing business in China, we remain confident in the long-term opportunities this market holds for Lululemon”

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