Lululemon’s Direct To Consumer Revenue has soared from $1.1 billion in 2019 to $2.9 billion in 2021. Trefis expects the metric to grow to over $4.3 billion by 2023.
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Lululemon benefited from the demand for comfortable work-from-home clothing through Covid-19. Moreover, customers are increasingly placing orders via e-commerce channels, helping Direct To Customer revenues.
However, we think the projected growth is largely priced into the stock. We value LULU at $367 per share, roughly in line with the current market price.
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