Lululemon to expand into five additional markets in Central and Eastern Europe

Last week, Lululemon fired its CEO, and it was announced that activist investor Elliott Management has built up a 1 billion dollar stake in the athleisure label. The investor reportedly wants to appoint former Ralph Lauren executive Jane Nielsen as the new CEO.

Lululemon is seeing growth slow in its North American home market and is losing market share to new competitors. Over the course of this year, the brand has lost almost half of its market value. Obviously, good news was welcome, and the expansion announcement has provided just that.

Next year, Lululemon will launch in Greece, Austria, Poland, Hungary, and Romania with the help of franchise partner Arion Retail Group. The previously announced entry into India will also take place through a partnership with Tata CLiQ.