Poseley to oversee global merchandising and design strategy
VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica inc. [NASDAQ:LULU] today announced that Tara Poseley
has been appointed to its Senior Leadership Team as Chief Product
Officer. In this role, Ms. Poseley will oversee the Company's global
merchandising and design strategy, working hand in hand with its
talented and proven design team including Deanne Schweitzer, Senior Vice
President and head of women's design, and Felix Del Toro, Senior Vice
President and head of men's design. Reporting to the Company's Chief
Executive Officer, Ms. Poseley's responsibilities include merchandising,
inventory, allocation and strategic planning.
"Tara brings tremendous experience in merchandising and product
execution that will greatly enhance the leadership team and increase the
level of sophistication with which we approach the merchandising
function. In addition, her proven track record in product allocation and
planning will help us to maximize the productivity of each lululemon
store. Tara checks all of the skill boxes and will be a great cultural
fit and the team looks forward to working closely with her," said
Christine Day, CEO of lululemon athletica. "With Tara as Chief Product
Officer and Jennifer Battersby having accepted the role of Senior Vice
President of Sourcing, we have greatly fortified our product engine and
execution capabilities, an investment in the business that will pay
dividends as we pursue new growth opportunities."
A seasoned and accomplished retail executive, Ms. Poseley brings 25
years of experience in strategic product development, merchandising and
brand management for both large-scale and entrepreneurial businesses,
running apparel, accessories, men's, women's and children's categories.
She most recently served as President of Kmart Apparel, a multi-channel,
multi-category business with several billion in revenue, at which she
was responsible for the revitalization of Kmart Apparel and the launch
of several new product collections to attract a younger and
multi-cultural customer. Previously, she held the position of Interim
President at Bebe Stores, Inc, President of Disney Stores North America
(The Children's Place), and CEO of Design Within Reach (DWR). Ms.
Poseley also held a range of senior merchandising and design management
positions during her 15 year tenure at Gap Inc. Tara practices yoga, is
an avid telemark skier, loves spending time in outdoor activities with
her family and looks forward to living in Vancouver, B.C.
Chip Wilson, Founder and Chairman of the Board added, "on behalf of the
Board, we are thrilled that Tara will be joining the lululemon family.
We believe that her passion for athletics and product combined with her
experience in the vertical apparel business will fit perfectly in the
lululemon culture. These strengths will serve her well as she inspires
our design team to continue pushing the envelope when it comes to the
design, fit and function of our product."
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU) is a yoga-inspired athletic apparel
company that creates components for people to live long, healthy and fun
lives. By producing products that help keep people active and stress
free, lululemon believes that the world will be a better place. 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.
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that involve risks, uncertainties
and assumptions, such as statements regarding our future financial
condition or results of operations, our prospects and strategies for
future growth, the development and introduction of new products, and the
implementation of our marketing and branding strategies. In many cases,
you can identify forward-looking statements by terms such as "may,"
"will," "should," "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "predicts," "potential" or the negative of these
terms or other comparable terminology. These forward-looking statements
are based on management's current expectations but they involve a number
of risks and uncertainties. Actual results and the timing of events
could differ materially from those anticipated in the forward-looking
statements as a result of risks and uncertainties, which include,
without limitation: the possibility that we may not be able to manage
operations at our current size or manage growth effectively; the
possibility that we may not be able to locate suitable locations to open
new stores or attract customers to our stores; the possibility that we
may not be able to successfully expand in the United States and other
new markets; the possibility that we may not be able to finance our
growth and maintain sufficient levels of cash flow; increased
competition causing us to reduce the prices of our products or to
increase significantly our marketing efforts in order to avoid losing
market share; the possibility that we may not be able to effectively
market and maintain a positive brand image; the possibility that we may
not be able to maintain recent levels of comparable store sales or
average sales per square foot; the possibility that we may not be able
to continually innovate and provide our consumers with improved
products; and the possibility that our suppliers or manufacturers may
not produce or deliver our products in a timely or cost-effective
manner; and other risk factors detailed in our filings with the
Securities and Exchange Commission ("the SEC"), including Risk Factors
contained in our final prospectus relating to our initial public
offering included in our Registration Statement on Form S-1 (file no.
333-142477) filed with the SEC, as revised or supplemented by our
quarterly reports on Form 10-Q filed with the SEC. Our filings with the
SEC are available at www.sec.gov.
You are urged to consider these factors carefully in evaluating the
forward-looking statements herein and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by this cautionary statement. The forward-looking
statements made herein speak only as of the date of this press release
and the company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
Joseph Teklits/Jean Fontana, 203-682-8200
Source: lululemon athletica inc.
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