The wider embracement of a healthy lifestyle and the rise in athleisure, a combination of sports and leisure wear, have boosted the growth in the athleisure apparel industry. As one of the most popular companies in this industry, Lululemon, a Canadian sportswear company specialising in women’s yoga apparel that was officially founded in 1998, has attracted investors’ attention since 2017, when the stock price began to surge. However, from the beginning of 2024, Lululemon’s stock price has kept dropping from its peak at $509 per share in the last eight months. Thus, this paper aims to critically assess Lululemon’s performance in the past three years and provide suggestions for investors. Two key goals are pursued: first, strategically positioning Lululemon with SWOT analysis within the industry, and second, evaluating Lululemon’s performance using financial ratios. The literature review is the main method used for both strategic and financial analysis. Financial analysis results have shown that Lululemon is gradually recovering from the hit of the pandemic, with improved profitability, consistent growth in liquidity and a reduction in leverage risk over the past three years. In conclusion, Lululemon should be careful of the possible threats concluded above and use its strength to reinforce its advantages in this industry.