Lululemon (LULU) stock rose to over 5% in premarket trading as investors cheered the brand’s move into professional sports merchandising. The deal marks the yoga-wear giant’s first major push into licensed sports apparel, which is a a market long dominated by Nike (NKE) and Adidas (ADDYY).
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It’s a New Look for Game Day
The company will design and develop an exclusive NHL-branded collection through a partnership with Fanatics, a global leader in licensed sportswear. The first batch of products launches October 29, covering 11 NHL teams for the 2024-25 season before expanding to all 32 teams next year.
“We’re big hockey fans here at Lululemon, and we know our guests are too,” said Celeste Burgoyne, President of Americas and Global Guest Innovation. “We’re thrilled to partner with Fanatics and the NHL to grow our presence in professional sports and introduce our high-quality performance and loungewear apparel to NHL fans.”
The collection will include several of Lululemon’s most popular pieces, such as the Scuba Hoodie, Define Jacket, and Align Pant, reworked with team colors and logos.
There Is Star Power On and Off the Ice
The campaign features Connor Bedard, last year’s NHL rookie of the year and the first professional hockey player to join Lululemon’s ambassador roster. Bedard will be joined by other NHL players and partners, including John Tavares (Toronto Maple Leafs) and Mark Stone (Vegas Golden Knights).
“As a proud Lululemon ambassador and long-time fan of the brand, it’s exciting to see this partnership come together,” Bedard said.
Investors Cheer Expansion Into Sports
Analysts say the deal strengthens Lululemon’s push into broader lifestyle and performance markets beyond yoga and training wear. The collaboration also taps into a growing base of hockey fans in both the U.S. and Canada, offering year-round retail exposure across Fanatics’ and Lids’ stores.
“This new collection is a pivotal moment in how we connect both men and women to the teams they love—bringing them together in style and comfort through a truly premium assortment,” said Fanatics Commerce CEO Andrew Low Ah Kee.
Shares of Lululemon have lagged peers in recent months, but Monday’s rally suggests investors see the NHL collaboration as a new growth driver heading into the holiday shopping season.
Is Lululemon a Good Stock to Buy Now?
Despite the stock’s pop, Wall Street isn’t rushing to change its view. The overall consensus on Lululemon stock is Hold, with 22 of 25 analysts sitting on the sidelines. Only two call it a Buy, and one rates it a Sell.
The average 12-month LULU price target is $195, suggesting just a 5% upside from current levels.
