NEW YORK — A major renovation may be underway at Lululemon’s flagship store in Manhattan, but the fast growing retailer isn’t missing a beat.
The Vancouver, B.C.-based operator of 201 stores has set up a temporary store at 1142 Third Ave., across from its flagship location to satisfy the New Yorkers’ needs while the four-month renovation is underway.
"Exercising and staying in good shape are inherent to the character of the Upper East Side lifestyle. This brand resonates with people here, and I'm sure the residents are relieved not to have any disruptions from some of their favorite shopping," said Joseph Aquino, an EVP with Douglas Elliman’s Retail Group, the firm that helped Lululemon establish the temporary location. The location is the former site of a Uniqlo pop-up shop and the space is on the same block as Thierry Rabotin, Bare Escentuals, Caché, Canyon Beachwear and Arden B. "The Lululemon Athletica flagship across the street is currently undergoing a major renovation, so this temporary home ensures its continued presence on the avenue. We are delighted that the timing and circumstances worked out so well,” said Faith Hope Consolo, CEO, Douglas Elliman’s Retail Group.
Lululemon has enjoyed rapid growth since it was founded in 1998. The retailer hosts in-store events ranging from self-defense to goal-setting workshops to complimentary yoga classes led by their appointed community ambassadors. It runs a blog on its store site and encourages its customers to sign up for weekly emails where they can get updates on what local stores have available.
During the company’s recently ended third quarter sales grew by 37% to $316.5 million thanks in large part to an 18% same store sales increased. For the first nine months of the year, sales are up 41% to $885 million and same store sales are up 19%.
“Our stellar results were driven by first-rate execution, strong community engagement, beautiful product and continued strength in our ecommerce business,” Lululemon CEO Christine Day said at the time.