lululemon athletica (NASDAQ:LULU) announced that, on June 21, the company will donate 100% of profits from its in-store and online sales to benefit non-profit groups that increase access to yoga and meditation for communities that face barriers to well-being.
Funds will be donated through Here to Be, the company’s social impact program launched in 2016. The United Nations designated June 21 as International Day of Yoga four years ago.
"The health benefits of yoga and meditation are undeniable," said Celeste Burgoyne, the company’s EVP, Americas, who oversees all global store and digital operations for lululemon.
"Cultural, geographic, physical and financial barriers remain today that stand in the way of people participating in yoga or meditation. Through Here to Be, lululemon and our guests can support grassroots organizations focused on well-being in our communities and around the world."
lululemon anticipates the community investment to be more than $1 million, which could increase based upon guest response on International Day of Yoga.
Launched in 2016, lululemon’s Here to Be program creates equitable access to yoga and meditation across social, physical and economic barriers.
To date, more than 300 non-profit organizations in 27 countries have received $5.4 million in grants, in-kind contributions and support.
Here to Be partners currently serve groups such as: survivors of violent conflicts and trauma; individuals with an illness or disability; veterans; those who face systemic prejudice or bias; and at-risk youth.
Shares in the Canadian-based company slid 88 cents to $127.49
