Lululemon Athletica inc. vs Nike, Inc.
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Lululemon wins women's premium athleisure and margin discipline; Nike wins on scale, footwear, and global reach.
At a glance
| Metric | Lululemon Athletica inc. | Nike, Inc. |
|---|---|---|
| Revenue | $11.1B (FY2025) | $46.3B (FY2025, ended May 2025) |
| Profit | ~$1.7B (Net Income) | ~$3.2B (Net Income, FY2025) |
| Active users | 20 Million+ Members | 550 Million+ Digital Members |
| Employees | ~38,000 | ~75,000 |
| Founded | 1998 | 1964 |
| HQ | Vancouver, British Columbia | Beaverton, Oregon |
LLitmus Framework Score
Overall: Lululemon Athletica inc. 96 · Nike, Inc. 94
Customer Segment
98
100
Value Proposition
97
95
Marketing Channel
100
100
Engagement
90
92
Income Source
95
94
Asset Validation
94
98
Core Operations
92
90
Strategic Alliance
80
95
Expense Validation
93
90
Lululemon Athletica inc. leads 4 modules, Nike, Inc. leads 4. Overall edge: Lululemon Athletica inc..
Head to head
| Dimension | Lululemon Athletica inc. | Nike, Inc. |
|---|---|---|
| Revenue | $11.1B (FY2025) | $46.3B (FY2025) |
| Channel | Vertical, ~no wholesale | Wholesale + DTC (~56/44) |
| Gross margin | ~58% (pre-tariff) | ~40-44% |
| Marketing spend | ~4% of revenue, ambassadors | ~10%, mega-athletes |
| Core strength | Women's technical apparel | Footwear + Jordan IP |
FAQ
Is Lululemon Athletica inc. or Nike, Inc. a better business?
Lululemon wins women's premium athleisure and margin discipline; Nike wins on scale, footwear, and global reach. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Lululemon Athletica inc. and Nike, Inc.'s business model?
Lululemon Athletica inc. operates in Apparel (Sweat value), while Nike, Inc. is Consumer Goods (Just Do It). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Lululemon Athletica inc. or Nike, Inc.?
Lululemon Athletica inc.: ~$1.7B (Net Income). Nike, Inc.: ~$3.2B (Net Income, FY2025).