lululemon athletica (NASDAQ: $LULU); Profits from Sales* on June 21 to Increase Access to #Yoga and Meditation Through Non-profit Partners
VANCOUVER, British Columbia - June 18, 2018 (Investorideas.com Newswire) lululemon athletica (NASDAQ:LULU) today announced that, on June 21, the company will donate 100 percent of profits* from its in-store and online sales to benefit non-profit groups that increase access to yoga and meditation for communities that face barriers to well-being. Funds will be donated through Here to Be, the company's social impact program launched in 2016. The United Nations designated June 21 as International Day of Yoga four years ago.
"The health benefits of yoga and meditation are undeniable," said Celeste Burgoyne, the company's EVP, Americas, who oversees all global store and digital operations for lululemon. "Cultural, geographic, physical and financial barriers remain today that stand in the way of people participating in yoga or meditation. Through Here to Be, lululemon and our guests can support grassroots organizations focused on well-being in our communities and around the world."
lululemon anticipates the community investment to be more than $1 million, which could increase based upon guest response on International Day of Yoga.
About the Here to Be program
Launched in 2016, lululemon's Here to Be program creates equitable access to yoga and meditation across social, physical and economic barriers. To date, more than 300 non-profit organizations in 27 countries have received $5.4 million in grants, in-kind contributions and support.
Here to Be partners currently serve groups such as: survivors of violent conflicts and trauma; individuals with an illness or disability; veterans; those who face systemic prejudice or bias; and at-risk youth, to name just a few.
Many of the community organizations that become Here to Be partners are identified through lululemon employees in each store. Yearly support ranges from $2,500 for local partners to $100,000 for strategic partners who create access at scale. Current partners, in the United States, include: the LoveYourBrain Foundation, which serves people affected by traumatic brain injuries in 23 states; Yoga Foster, which trains public elementary school teachers in 49 states to integrate yoga into their classrooms; I Grow Chicago, which provides a safe, intergenerational hub for community members in Englewood; Red Clay Yoga, which empowers young women of colour in the Atlanta area; and Warrior Spirit Retreat, which serves veterans and their families. In the UK, Here to Be partners with Ourmala, which provides services to refugees and asylum seekers.
More details about Here to Be can be found at: www.lululemon.com/heretobe
Survey in United States, Canada and the United Kingdom
Earlier this month, lululemon commissioned a survey of more than 4,000 adults, between the ages of 18 and 64, in the United States, Canada and the United Kingdom about current attitudes and participation levels in yoga. The survey was conducted by Beall Research Inc.
Almost one-third of all respondents who do not currently have a yoga practice feel they would not be welcomed in the yoga community. Differences among men and women in the US were reflected in the survey, with women being twice as likely to have practiced yoga in the last 12 months, while men between the ages of 30 to 44 are nearly three times more likely to be unaware of the health benefits of yoga compared to women of the same age.
Notably, across countries and demographics, about 80 percent of people who practice yoga said they receive mental health benefits by doing so, reducing stress and improving concentration. Two in five respondents said receiving mental health benefits is the top reason they participate in yoga.
"This survey reaffirms many long-held stigmas associated with yoga and meditation, and powerfully shows that, across all groups and geographies, the compelling benefits are recognized once someone participates for the first time. With so much stress and tension around us today, it's never been more important to help communities and individuals who face barriers to well-being," said Burgoyne.
*Details of June 21
lululemon will donate 100 percent of profits which equals 16 percent of sales (net of returns, discounts, and sales taxes) made on June 21, 2018 to non-profit organizations supported by Here to Be. Profits for the day will be based on the company's reported first quarter operating profit margin rate of 16 percent. Purchase date determined based on local store opening hours for in-store purchases, and from 12:00 a.m. to 11:59 p.m. pacific time zone for online purchases at www.lululemon.com. Sales include those generated from online at www.lululemon.com (including .hk, .eu, .ch, .au, .nz) and lululemon stores across Canada, United States of America, Europe, Australia, New Zealand, Japan, Korea, Taiwan of PRC, Singapore, Malaysia, and Hong Kong SAR of China.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com.
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