Lululemon Athletica: Pitching an IPO
(7 pages of text)
The managing director at a major investment bank is preparing his team for a visit to Lululemon Athletica, a yoga-inspired athletic apparel company. The investment bank has been following Lululemon’s development over the past few years and is impressed by the company’s unique positioning and rapid growth. The bank believes that there is a window of opportunity for Lululemon’s founder and private equity investors to either undertake an initial public offering or raise debt to fund Lululemon’s U.S. expansion.
- How to evaluate the costs and benefits of capital options.
How to place a value on a company, primarily utilizing the free cash flow to the firm method, and other value metrics such as price-to-earnings and market-to-book ratios.
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