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Why Lululemon’s CEO Is Stepping Down

Slowing growth, rising costs and a loud campaign from its outspoken founder set the stage for Calvin McDonald’s exit. It may be the athleisure giant’s best hope to regain its cultural momentum.
Lululemon CEO Calvin McDonald
Under Calvin McDonald's seven-year tenure, Lululemon annual sales tripled to $10.6 billion. (Getty)

Lululemon chief executive Calvin McDonald just learned the hard way that in fashion, cool sometimes speaks louder than numbers on an income statement.

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Further Reading

At Lululemon, Being Black Is ‘Off-Brand’

Like many companies in fashion and other industries, the $50 billion yoga apparel brand created a new department in 2020 it said would help improve its diversity and inclusion and create a more equitable playing field for minorities. In interviews with BoF, 14 current and former Black employees said things have only worsened since then.

About the author
Cathaleen Chen
Cathaleen Chen

Cathaleen Chen is Retail Editor at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.

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