Canadian activewear firm Lululemon is launching a new store on George Street, Sydney in July, which will cover two floors and offer 585 square metres of space.
The store will be Lululemon’s first multi-level store in the country, and will occupy the ground and first floor of Brookfield Place, Sydney.
“As the largest store in our Australia and New Zealand retail portfolio, Brookfield Place represents a new 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.”
Brookfield Properties national retail director Bridget Fea said the innovative and large-scale project is in its final stages, and that the store will launch in July.
“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 Fea.
Riding the casual-wear wave
Lululemon is one of several brands that have enjoyed a bump in sales as a result of the change to how people lived and worked in the last year.
Due the pandemic forcing many to isolate themselves into their homes, leisure and work become more intertwined and casual wear boomed – with activewear already having enjoyed a bump in relevance due to the growing wellness trend.
In fact, a report published by Spanish Interment Firm Comprar Acciones found the global activewear market would reach US$353.5 billion in 2020 due to its resilience to the pandemic (not literal resilience, as Lorna Jane claimed), and would reach a value of US$439.17 billion by 2026.