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Lululemon Partners With Leading Sustainable Materials Innovator Genomatica To Bring Bio-Nylon To Products

lululemon athletica inc. (NASDAQ:LULU) today announced a multi-year collaboration with sustainable materials leader Genomatica to bring renewably-sourced, bio-based materials into lululemon's products.

lululemon athletica inc. (LULU) - Get Lululemon Athletica Inc (LULU) Report today announced a multi-year collaboration with sustainable materials leader Genomatica to bring renewably-sourced, bio-based materials into lululemon's products. This represents lululemon's first-ever equity investment in a sustainable materials company and Genomatica's largest partnership within the retail industry. Together, the two companies will create a lower-impact, plant-based nylon to replace conventional nylon, which is the largest volume of synthetic material currently used to make lululemon products.

Genomatica uses biotechnology and fermentation to convert plant-based ingredients into widely used chemical building blocks, like those used to make nylon. These building blocks are converted to pellets and yarns, and the companies will be working closely with lululemon's fabric supply chain to incorporate this material into future products. Through this collaboration, the companies seek to create positive change within the $22B global nylon market by building more sustainable supply chains.

Calvin McDonald, CEO, lululemon said, "Our partnership with and investment in Genomatica demonstrates our commitment to be a leader in creating products that help build a healthier future for ourselves, for our communities and for our planet. Genomatica's bio-based innovations, along with their distinctive track record of successful commercial applications, will help us deliver on our Impact Agenda goals to make 100% of our products with sustainable materials and end-of-use solutions by 2030, as we move toward a circular ecosystem."

"We are proud to partner with lululemon, a company that is taking meaningful action to help address our climate crisis," said Christophe Schilling, CEO, Genomatica. "The combination of biotechnology, fermentation and renewable feedstocks can provide a powerful means to disrupt the apparel industry through sustainable sourcing. This unique collaboration will help meet increasing consumer demand for more environmentally friendly products and set an example for consumer brand owners worldwide."

Patty Stapp, VP, Raw Materials, lululemon, said, "Replacing the petrochemicals that make up many popular materials with more sustainable alternatives is a major step forward in reaching our Impact Agenda goals. By transitioning our nylon to renewable content, we will impact over half of the synthetic materials we use in our supply chain. We have seen Genomatica repeatedly and successfully deliver industry-changing bio-based materials at commercial scale and are confident this partnership can truly change the way we source products, while continuing to provide the exceptional quality we are known for."

In October 2020, lululemon released its first-ever Impact Agenda, outlining ambitious social and environmental goals and multi-year strategies toward a more equitable, sustainable, and healthy future. The collaboration with Genomatica is one of the many ways lululemon is bringing new, sustainable innovation to its raw materials. Additional examples include the company's partnership with Mylo, to use a mycelium-based leather, and LanzaTech, for polyester made using recycled carbon emissions.

About lululemon athletica inc.

lululemon athletica inc. (LULU) - Get Lululemon Athletica Inc (LULU) Report is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com

About Genomatica

Genomatica is harnessing biology to remake everyday products and materials built by and for the planet. The company is developing and scaling sustainable materials derived from plant- or waste-based feedstocks instead of fossil fuels to help brands deliver on their climate goals and our planet's needs. Genomatica has already commercialized sustainable materials used in plastics, spandex and cosmetics, and is working on plant-based nylon, household cleaners and more. To learn more, visit www.genomatica.com.

Forward-looking Statements

This press release contains "forward-looking statements," which are statements related to future, not past, events. These statements often address our future business and financial performance and expected results and are based on our current expectations. 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 we face. For example, we may be unable to anticipate consumer preferences and successfully develop new, innovative, and differentiated products; our new products or technologies may not be accepted by our guests; or our competitors may introduce similar products in a timelier fashion. We also may not realize the potential benefits of our strategic collaborations or the market may have an adverse reaction to any of these arrangements. In addition, we may receive products or technologies from our strategic partners, suppliers or other commercial parties that fail to comply with our specifications or to conform to our quality control standards, or these parties may not comply with our standards or applicable laws or there may be negative publicity regarding their production methods. Other risks and uncertainties are included in our most recent reports on Form 10-K and Form 10-Q, which we file with the SEC. All forward-looking statements speak only as of the date of this press release and we do not plan publicly to update these statements to reflect subsequent events or circumstances, except as may be required by law.

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