Lululemon Athletica invests in sustainable materials company for plant-based nylon

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Lululemon Athletica Inc.
LULU,
-3.67%
said Wednesday that it has invested in Genomatica, a company that makes sustainable materials. Financial details of the investment weren’t disclosed, but the partnership will yield a multi-year collaboration to create a plant-based nylon to replace the conventional nylon that’s currently used in many Lululemon products. Lululemon released its Impact Agenda in October 2020 outlining its environmental goals. Lululemon stock is up 12.8% for the year to date while the S&P 500 index
SPX,
-0.71%
has gained 18.4% for the period.

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