"Over the course of his seven-year tenure, McDonald more than tripled the company's annual revenue from $2.6 billion in 2018 to $10.6 billion in 2024. (Revenue is expected to hit $11 billion this year.) He led the company's global expansion to 30 countries; international revenue alone is now $3 billion. And he helped Lululemon become known not only for activewear, but also for apparel you could wear to the office."
"Now, McDonald is on his way out. Last week, at Lululemon's earnings call, the company announced that it was looking for a new CEO with experience in " growth and transformation". This comes after Lululemon's growth slowed to 10% last year from 19% the year before. There are many reasons for the company's recent troubles, from product missteps like a widely-panned Disney collaboration to U.S. tariffs to weaker consumer spending."
Calvin McDonald led Lululemon from a cult yoga label to a global apparel company over seven years. Annual revenue grew from $2.6 billion in 2018 to $10.6 billion in 2024, with expectations of $11 billion. The company expanded into 30 countries and achieved $3 billion in international revenue. Product range extended from activewear to office-appropriate apparel. Growth slowed to 10% amid product missteps, U.S. tariffs, and weaker consumer spending, contributing to a stock decline. The founder pushed for McDonald's exit, and the company is seeking a new CEO with experience in growth and transformation.
Read at Fast Company
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