Adidas loses its position as the world's second largest sports brand

lululemon's share price soared nearly 10%, and its market value exceeded US$50 billion. Benefiting from the news that it will be included in the S&P 500 Index, lululemon's stock price rose 9.6% to US$414 at the opening on Monday (Oct 16). The latest market value is US$52.4 billion, making it the second largest sports brand in the world, US$20 billion higher than Adidas.

In the three months ended Jul 30, lululemon's sales surged 18% year-on-year to US$2.2 billion, exceeding analysts' expectations. Gross profit margin increased to 58.8%, and net profit surged nearly 18% to US$340 million.

lululemon earlier reiterated that its number of stores in China is expected to reach 200, currently about 126, and emphasized that the number of recently opened stores far exceeded internal expectations, while also promoting the development of online business and community participation. lululemon will continue to target the high-end positioning of the Chinese market, making innovation as the driving force, and activate the market through the community including more than 500 local ambassadors.