Lululemon Athletica Inc. plans to continue expansion into more international markets with its yoga and running apparel and won't shift its brand to fashion wear, CEO Christine Day said Friday.
"Looking ahead, we are excited about the opportunity to bring Lululemon to other communities around the globe and are continuing our steady foray into the international market," Day said after the company reported a big increase in quarterly profit.
Vancouver-based Lululemon plans to open 35 corporateowned stores plus two outlets in fiscal 2012, while noting that its e-commerce business is growing rapidly as well.
Shares in Lululemon shot up 8.6 per cent, gaining $5.77, to reach $73.16 per share in midday trading Friday on the Toronto Stock Exchange.
Day said Lululemon's London showroom has opened and a second Hong Kong showroom is expect to open in a month.
Lululemon already operates in Canada, the United States and Asia. Day didn't name any specific locations but said expansion will be through "direct control and ownership where it makes sense."
While the company's clothing has wide appeal, Day said Lululemon will remain committed to athletic apparel.
"I want to be really clear - we aren't shifting the brand to fashion," she told analysts.
Day also said that Lululemon won't expand beyond size 12 into larger sizes for its apparel because the company doesn't have the space in its stores.