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Lululemon's employees are the latest to join the union movement with D.C. workers looking to be the first in the company to unionize.
DAVE BRIGGS: My play is Lulu, as the union movement sweeping across the country has now come for Lululemon. Workers in Washington, DC filing for a union election. The Association of Concerted Educators is the group here attempting to unionize a store in the Georgetown neighborhood with roughly 30 employees. So, still relatively small for the moment. They're calling for more pay transparency and equitable pay structures.
Now, Lulu said in a statement that the company values the direct connection it has with its employees and encourages open and honest two-way communication, ongoing collaboration, and trust. The national union effort really gaining momentum. We talk about it quite often here, which includes Starbucks and Amazon. Most notably, will it include Lulu?
Very early to tell, but shares of Lulu down just about 1% on this news, down more than 20% year to date. We've talked about them often here, Rachelle, because they have some massive expectations, in particular for menswear, which they expect to double in the next couple of years, which could put it rival, or even exceed, women's wear.
RACHELLE AKUFFO: I mean, and I know you're a big fan of Lulu's clothes and things as well. So I know that's all good news for you.
DAVE BRIGGS: I'm wearing them right here, you know?
JARED BLIKRE: This guy is comfortable.
RACHELLE AKUFFO: Of course you are. [LAUGHS] But yeah, I mean, this unionization push, I mean, you have to wonder, would this have happened without COVID? With so many-- obviously, a lot of people working in retail stores. When people weren't coming to the stores, we saw so many layoffs. People want some protection. They want to know that their company has their back. So I don't think this is going to slow down. Jared, what's your take?
JARED BLIKRE: [LAUGHS] I wish I were as comfortable-looking as Dave sitting here. He's just--
DAVE BRIGGS: You've got to get some Lulu pants, buddy.
JARED BLIKRE: I know. I know. I got--
DAVE BRIGGS: I mean, these things, I could sleep in these. But go on and talk. [INAUDIBLE]
JARED BLIKRE: I got 130 while working here. I've never owned Lululemon pants. It's not that I wouldn't try it. I just haven't done it yet. So--
DAVE BRIGGS: You'll never go back.
JARED BLIKRE: I won't?
DAVE BRIGGS: No.
JARED BLIKRE: Now I'm scared.