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Lululemon redefined— or maybe even defined— athleisure, tapping into a goldmine of women underserved by major sports brands. Now, as those same companies pursue Lululemon’s core customer with vigour, CEO Calvin McDonald plans to cede no ground. The goal is to grow its revenue by more than 50 per cent from $8 billion in 2022 to $12.5 billion by 2026. New categories may play a key role, but fashion is awash with leggings. Is there still that much space to stretch?
