Lulu plans to double money

Photo: The Canadian Press

Lululemon Athletica Inc. says it will focus efforts to double revenue from men's products and digital revenue, and quadruple international revenues by 2023.

Lululemon says growing its men's line will be part of its ongoing product innovation that includes expanding its core women's business and adding new categories, like selfcare.

The company says a loyalty membership program, which is currently being piloted with plans to roll out it nationally, will help double the company's digital revenue.

Lululemon says it still sees considerable growth potential in Canada and the U.S., but expanding across China and other international regions will continue to be an area of focus.

The company unveiled its five-year growth plan ahead of its analyst day in New York this morning where executives will elaborate on the company's plans.

CEO Calvin McDonald says in a statement that the company is ready to build on its success and embark on the next phase of growth.