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Sheree Waterson Joins lululemon athletica as Executive Vice President of General Merchandise Management and Sourcing

6/1/2008

Former Levi's Strauss & Co., Speedo Executive to Join lululemon's
Senior Leadership Team

VANCOUVER, Canada, Jun 02, 2008 (BUSINESS WIRE) -- lululemon athletica inc. (NASDAQ: LULU; TSX: LLL) today announced that Sheree Waterson has been appointed to its Senior Leadership Team as Executive Vice President of General Merchandise Management and Sourcing. In this role, Ms. Waterson will oversee lululemon's Merchandise Management, Global Production, Community Legacies and Visual Merchandising.

Ms. Waterson brings 25 years of consumer and retail industry experience to lululemon. She most recently served as President of Speedo, a Warnaco, Inc. brand. Prior to this she served as Vice President of Merchandising, Women's, for Levi Strauss & Co., where she spearheaded initial work on new women's speed-to-market and profitability models and pioneered the "fit logic" initiative. At Gymboree she served as Vice President of Merchandising and served as CEO of Enfashion.com. Additional prior roles include senior level positions with Contempo Casuals and Wet Seal. She graduated from the University of California Berkley with a Bachelor of Arts in Psychology.

"We are pleased to have found a merchandising veteran with a strong history of accomplishments for this important role," said Christine Day, President, Chief Operating Officer, and CEO designate of lululemon athletica. "Sheree is an excellent cultural fit for lululemon. This combined with her extensive industry knowledge and our new merchandise technology systems will help form a robust infrastructure to support our future growth plans."

About lululemon athletica inc.

lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic apparel company that creates components for people to live longer, healthier and more fun lives. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. Founded in Vancouver, British Columbia in 1998, lululemon athletica is extending into new communities across North America and throughout the world. For further information, please visit www.lululemon.com.

Forward-Looking Statements:

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.

SOURCE: lululemon athletica inc.

Investors:
ICR, Inc.
Joseph Teklits / Jean Fontana
203-682-8200
or
Media:
FD
Evan Goetz, 212-850-5639
Diane Zappas, 212-850-5763

Copyright Business Wire 2008

News Provided by COMTEX

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding lululemon athletica inc (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.