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        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001749971</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
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        <issuerInfo>
            <issuerCik>0001397187</issuerCik>
            <issuerName>LULULEMON ATHLETICA INC.</issuerName>
            <secFileNumber>001-33608</secFileNumber>
            <issuerAddress>
                <ns2:street1>1818 Cornwall Avenue</ns2:street1>
                <ns2:city>Vancouver</ns2:city>
                <ns2:stateOrCountry>A1</ns2:stateOrCountry>
                <ns2:zipCode>V6J 1C7</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>604-732-6124</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>CALVIN MCDONALD</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>NBCN CLEARING INC.</name>
                <address>
                    <ns2:street1>130 King Street W</ns2:street1>
                    <ns2:street2>Ste 3000</ns2:street2>
                    <ns2:city>Toronto</ns2:city>
                    <ns2:stateOrCountry>A6</ns2:stateOrCountry>
                    <ns2:zipCode>M5X 1J9</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>25000</noOfUnitsSold>
            <aggregateMarketValue>12437536.25</aggregateMarketValue>
            <noOfUnitsOutstanding>121074786</noOfUnitsOutstanding>
            <approxSaleDate>12/18/2023</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>12/18/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>25000</amountOfSecuritiesAcquired>
            <paymentDate>12/18/2023</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>12/18/2023</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Calvin McDonald</signature>
        </noticeSignature>
    </formData>
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144
0001749971
XXXXXXXX
LIVE
0001397187
LULULEMON ATHLETICA INC.
001-33608
1818 Cornwall Avenue
Vancouver
A1
V6J 1C7
604-732-6124
CALVIN MCDONALD
Officer
Director
Common
NBCN CLEARING INC.
130 King Street W
Ste 3000
Toronto
A6
M5X 1J9
25000
12437536.25
121074786
12/18/2023
NASDAQ
Common
12/18/2023
Stock Option Exercise
Issuer
N
25000
12/18/2023
Cash
Y
12/18/2023
/s/ Calvin McDonald