Retail

Lululemon Opens Pop-Up Library With Penguin Random House In NYC

Lululemon announced that it has partnered with Penguin Random House for a pop-up library in New York City.

Located in Lululemon's HUB Seventeen community space in the Flatiron building, the store boasts areas for visitors to read or check out over 1,000 books, as well devices so they can listen to audiobooks. There will also be special events during the pop-up's duration, including celebrity book readings and curated food experiences. The pop-up is free and open through the spring of 2019.

“Penguin Random House has an extraordinary list of published books that we wanted to bring directly to our Lululemon guest through this curated collection of lifestyle titles in an array of categories, including mindfulness, food, style and more,” Meghan Chisholm, a Lululemon spokesperson, told RetailDive.

The partnership comes after the athletic retailer revealed earlier this month that it has been testing a loyalty program that might soon be expanded into additional markets.

During its third-quarter earnings call, Lululemon said it has been charging select members $128 per year for curated experiences, free shipping and more. Reviews from its initial test market in Edmonton have been so positive that customers say they would pay even more for the program.

“Guests are seeing value beyond just the product,” Lululemon CEO Calvin McDonald said.

In addition, its Q3 earnings showed a net revenue of $747.7 million, an increase of 21 percent compared to the previous year. Total comparable sales went up 17 percent, with comparable store sales increasing 6 percent and direct-to-consumer net revenue rising 44 percent.

“Lululemon has achieved a high level of success over the past year and has established a solid foundation to continue to build our future. It’s been exciting to see guests around the world respond so strongly to our product offerings and improved digital experience,” McDonald said. “I look forward to what’s ahead for our brand as we strive to exceed the expectations of our guests.”

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