Lululemon, which is now worth around $50 billion, will replace Activision Blizzard in the S&P 500 following the latter's takeover by Microsoft.
Lululemon, with a market value of around $48 billion, will enter the benchmark on Wednesday, S&P Dow Jones Indices said in a weekend statement, replacing Activision following its $69 billion takeover by Microsoft
Shares in the group have risen nearly 200% over the past five years, adding billions to its market value, as its continues to win over shoppers in the key demographic of upscale athletic apparel and fitness in the U.S. while expanding its operations to overseas markets. The group also unveiled plans for a five year content and apparel partnership with Peloton Interactive PTON late last month that will see it become the primary athletic apparel partner on the connected fitness group's website and in its retail stores.
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