Luluemon Store Lululemon Ofer Mall Ramat Aviv (Photo: Moshi Gitlis)
The sports fashion icon, who even managed to become a worker in several films and series (I am all lululemond - in the sense that I am already dressed and ready for sports, in the sense of "a million little things") has finally arrived in Israel.
The Lululemon store, which opened in the Ramat Aviv Mall, is Lululemon's first store in Israel, under a franchise and management of the Irani Group. The Group intends to open 10 stores in Israel in the next 3 years, with the official local website lululemon.co.il launched in the second half of 2024.
Roni Irani, founder and owner of Irani Group, said at the opening ceremony: "Lululemon has created quality and innovation at the highest level we have known. Quality that did not exist in the world of sports, it provides items that perfectly fit the different types of sports, and its uniqueness focuses on fabrics, cuts and colors that are also loved by consumers in Israel.
Lululemon is the first brand to develop the theme of communities, with the aim of connecting people and creating a community that gives space to an individual who lives in the modern world and wants to connect with other people from a place of sport and inspiration, and we know that it does this well when the garment on the body feels like a harmony that touches you as a person and immediately you feel part of the community that the brand develops and continues to grow."
Tights top 249 NIS. Lululemon Lululemon (Photo: PR)
The market cap continues to grow and stands at $48 billion
"The brand's growing market cap currently stands at $48 billion, second in the world, with tremendous growth potential and we are proud to take part in the continued growth of the brand and even more to make their products accessible in our stores to the Israeli public."
Lululemon's stores in Israel are designed to serve as community meeting centers for connecting people who love sports. The stores that will open in Israel are the brand's new generation of stores, and most of them will be spread over large areas of about 500 square meters with space and height that will create a pleasant and bright space. A nice place to meet and practice.
The professional staff at the stores consists of coaches and community members who created content and activities for the store audience, in addition to service, sales and consulting.
No less important and touching for everyone - the prices! Regarding the price of the brand's items in Israel compared to the brand's prices worldwide, Roni Irani replied: "Together with Lululemon we created a price revolution that has not yet been seen in Israel and managed to change the equation so that prices in Israel will be about 5% higher than the US on average, including VAT, but lower than prices in Dubai."
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Many are "addicted" (and even more "addicted"). Lululemon in Israel (Photo: Walla!Silver)
Prices in Israel
Lululemon's latest financial statements will be released on March 28, 2023.
In 2022, compared to 2021, net revenue increased 30% to $8.1 billion, while in the fourth quarter net income increased 30% to $2.8 billion and net income increased 29% in North America and rose 35% globally.
According to the company, these results provide a solid foundation for meeting the goals of the brand's growth plan for the next five years, according to which the brand expects to double its international revenue again by 2026 (compared to 2021).
In any case, it is an expensive brand. Prices all over the world differ from each other, but they are all in the top ten of acceptable prices for sports fashion. Prices in Israel can be defined, as stated, as "higher than the US, cheaper than Dubai". Price range for brand items in Israel:Men's fashion:Pants -300-1000 NIS Tops - 250-500 NIS Jackets - 470-850 NIS Lingerie - 75-300 NIS Women's fashion:
Jackets - 400-700 NIS Pants and skirts - 200-850 NIS Tops and tops - 160-600 NIS Lingerie - 75-300 NIS Jackets - 550-1190 NIS
Accessories:
Bags - 75-700 NIS Equipment - 75-550 NIS Hats and ribbons - 50-220 NIS
It's finally here: the first store in Israel for the Lululemon brand (Photo: Walla!, Walla!Silver)
Relatively young, but impressive in achievements
Lululemon was founded in 1998 by Chip Wilson in Vancouver, Canada. What began as an initial vision that led to the creation of high-quality, toning and pleasant yoga clothes that cannot be taken off the body, has continued to a holistic approach to all sports categories. The move led to a huge success, with Lululemon now among the leaders of the athleage trend. Lululemon's core values are based on a meaningful connection to his community around the world.
Lululemon directly operates more than 600 stores worldwide. The entry into Israel at this stage stems from the many purchases made by Israelis in the brand's stores around the world. The brand sees Israel as a strategic market with the strengthening of Israel in general and Tel Aviv in particular as a leading cosmopolitan city.
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Tags
- Consumerism
- fashion
- Sports fashion
- sport
- yoga
- Pilates
- Ramat Aviv Mall
- Ofer Mall