Lululemon to Open 30 Stores

Lululemon Athletica Inc. (Vancouver, British Columbia) CEO Laurent Potdevin said the company will open 30 additional stores this year and take over seven of 15 Ivivva locations.

Potdevin hopes to double the retailer’s revenue to $4 billion by 2020, reports Women’s Wear Daily. By late August, Lululemon will close 40 of its 55 Ivivva stores.

“The macro environment is not great,” said Potdevin. “But given the strength of the brand that we have, I think we’re very much in control of our destiny."