DESIGN
BRANDING Illustrations / Photoshop / Illustrator Main Ad 11” x 8.5” Single Ads 8.5” x 11”
For this branding project, the requirements were simply to create and advertise a brand. I chose to work with beard oil and show a more rustic design style with hand drawn graphics on the labels and an implied potential for expansion in products. Each scent appeals to a different “type of man” with an animal and product color that complements that theme. The logo and company name were created with a slightly edited script typeface to parallel the rustic design. It was then paired with a thinner, typewriter typeface to create balance. The advertising was created so as to not overwhelm consumers, but draw them in with a stark contrast of the rustic product theme placed on a clean background coupled with short tag lines that appeal to the humorous side of the bearded community. This brand was design with a target market of the typical “man’s man” but still reaches each individual person within that description.
EVENT BRANDING Illustrator / Photoshop
8.5” x 11”
For this branding project, we had to either redesign a previously established event or create one of our own. I chose to create “Trick or Treat the Downtown Beat” in honor of Wesley Children’s Hospital’s grand opening this year. The first main poster features various tones of standard halloween colors paired with pumpkin graphics I created specifically for this design. The ghost and spider graphics were designed as a recognizable feature throughout each poster and package design. The logo was intended to be adaptable to different products or promotional items, while also using the Halloween tradition of trick or treating to assist the poster in self-explaining the event. With the other three posters, I wanted to continue the key graphics but also get away from the typical Halloween theme and showcase other aspects of the holiday without using the same orange and black color pallette. This way, each poster and bag will stand out from the decor and other event promotionals displayed this time of year. year. Overall, this event design was created to be recognizable yet attention grabbing for both parents and children.
CHILDREN 12 & UNDER
CHILDREN 12 & UNDER
OR OR
KID S
OR
CHILDREN 12 & UNDER &
ANNUAL REPORT Photoshop / Illustrator
11” x 8.5”
This redesign included finding a company’s annual report and placing the information in a more user-friendly and attracttve design within an eight to ten page requirement. I chose Lululemon because their original annual report design did not adequately convey their business and mission statement. Each photo was chosen to subtly complement the surrounding text and add a more interesting element to keep readers engaged. The header color was taken from Lululemon’s website and continued throughout the annual report for consistency even with diverse photos. “Lane” was the typeface chosen because of the simple and clean presentation that wouldn’t overwhelm or crowd a text-filled annual report. The overall design kept this same simple and clean theme throughout to take a wordy annual report and turn it into a more appealing read that better represents Lululemon’s core business and mission.
*See the original design at http://investor.lululemon.com/secfiling.cfm?filingid=1397187-15-16&cik=
TABLE OF CONTENTS PART I.
SPECIAL NOTES PAGE
Item 1.
BUSINESS
1
This Annual Report on Form 10-K contains forward-looking statements within the
Item 1A.
RISK FACTORS
5
meaning of Section 27A of the Securities Act of 1933, as amended and Section
Item 2.
PROPERTIES
12
21E of the Securities Exchange Act of 1934, as amended. We use words such
Item 3.
LEGAL PROCEEDINGS
13
as “anticipates,” “believes,” “estimates,” “may,” “intends,” “expects” and similar expressions to identify forward-looking statements. Discussions containing forward-
PART II. Item 5.
looking statements may be found in the material set forth under “Business,” MARKET FOR REGISTRANT’S COMMON EQUALITY, RELATED STOCKHOLDER
15
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Operations” and in other sections of the report. All forward-looking statements are
Item 6.
SELECTED CONSOLIDATED FINANCIAL DATA
18
Item 7.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
18
RESULTS OF OPERATIONS Item 7A.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
34
Item 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
35
Item 9.
CONTRROLS AND PROCEDURES
58
Item 10.
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
59
Item 11.
EXECUTIVE COMPENSATION
59
Item 12.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
59
concerning future events. Any or all of our forward-looking statements in this report may turn out to be inaccurate. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. They may be affected
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
60
the section entitled “Item 1A. Risk Factors” and elsewhere in this report. In light of these risks, uncertainties and assumptions, the forward-looking events and our actual results could differ materially from those anticipated or implied by the forward-looking statements. All forward-looking statements in this report are made
DIRECTOR INDEPENDENCE PRINCIPAL ACCOUNTANT FEES AND SERVICES
uncertainties, including the risks, uncertainties and assumptions described in
circumstances discussed in this report may not occur as contemplated, and
AND RELATED STOCKHOLDER MATTERS
Item 14.
inherently uncertain as they are based on our expectations and assumptions
by inaccurate assumptions we might make or by known or unknown risks and
PART III.
Item 13.
“Management’s Discussion and Analysis of Financial Condition and Results of
60
as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statement.
PART IV. Item 15.
EXHIBITS AND FINANCIAL STATEMENT SCHEDULE
61
OUR PRODUCT
OUR MARKET
Our healthy lifestyle inspired athletic apparel is marketed under the lululemon athletica and ivivva athletica brand names. We offer a
Our primary target customer is a sophisticated and educated woman
address their unique fit and performance needs by incorporating
comprehensive line of apparel and accessories for women, men and female youth. Our apparel assortment includes items such as pants,
who understands the importance of an active, healthy lifestyle. She is
style along with comfort and functionality into our products through our
shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits such as yoga, running, general fitness, and dance-inspired
increasingly tasked with the dual responsibilities of career and family
vertical retail strategy.
apparel for female youth.
and is constantly challenged to balance her work, life and health. We believe she pursues exercise to achieve physical fitness, healthy mine
Although we were founded to address the unique needs of women, we
and body and inner peace throughout.
are also successfully designing products for men and athletic female youth who also appreciate the rigor and quality of our products. We
Although we benefit from the growing number of people that participate in yoga, we believe the percentage of our products sold for other activities will continue to increase as we broaden our product range to address other activities. Our fitness-related accessories include an array of items such as bags, socks, underwear, yoga mats and water bottles.
Our design team continues to source and develop technically advanced fabrics and innovative functional features that we believe will help advance our product line and differentiate us from the competition.
As women have continued to embrace a variety of fitness and athletic
also believe longer-term growth in athletic participation will be reinforced
activities, including yoga, we believe we have been able to effectively
as the aging Baby Boomer generation focuses more on longevity.
OUR SEGMENTS We primarily conduct our business through two channels: corporate-owned stores, and direct to consumer. We also generate net revenue from our corporate-owned outlets and showrooms, through sales to wholesale accounts, from warehouse sales, and from sales from temporary locations. The net revenue we generate from these sources is combined in our other segment. As of February 1, 2015 , we operated 302 corporate-owned stores located in the United States, Canada, Australia, New Zealand, the United Kingdom, and Singapore. We believe our vertical retail strategy allows us to interact more directly with, and gain feedback from, our customers, whom we call guests, while providing us with greater control of our brand.
OTHER CHANNELS Other net revenue accounted for 7.1% of total net revenue in fiscal 2014 compared to 6.2% in fiscal 2013 and 6.0% of total net revenue in fiscal 2012 . Other net revenue includes sales made through these channels: • Wholesale - Our wholesale accounts include premium yoga studios, health clubs and fitness centers. We believe these wholesale locations offer an alternative channel that is convenient for our core consumer and enhances the image of our brand. We intend to use the channel to build brand awareness, especially in new markets, including those outside of North America. • Outlets and warehouse sales - We utilize outlets as well as warehouse sales, which are typically held one or more times a year, to sell slow moving inventory and inventory from prior seasons to retail customers at discounted prices. • Showrooms - Our showrooms are typically small locations that we open from time to time when we enter new markets and feature a limited selection of our product offering. • Temporary locations - Our temporary locations are typically opened for a short period of time in markets in which we may not already have a presence.
OUR EMPLOYEES
COMPETITION
INTELLECTUAL PROPERTY
As of February 1, 2015 , we had 8,628
We believe we own the material trademarks
own trademark registrations for names of
employees, of which 4,949 were employed
used in connection with the marketing,
several of our fabrics and products including
in the United States, 2,822 were employed in
distribution and sale of all of our products in
Luon, Silverescent, Pacebreaker, Rulu,
Canada, and 857 were employed outside of
the United States, Canada and in the other
Scuba, Wunder Under, distinctive apparel and
North America. None of our employees are
countries in which our products are currently
accessory designs, as well as a number of
covered by a collective bargaining agreement.
or intended to be either sold or manufactured.
corresponding design patents in the United
We have had no labor-related work stoppages
Our major trademarks include lululemon
States and community designs in Europe.
Competition in the athletic apparel industry is principally on the basis
specifically focused on women’s athletic apparel including The Gap,
by our employees and we believe our relations
athletica & design, the logo design (WAVE
of brand image and recognition as well as product quality, innovation,
Inc. (including the Athleta brand), Lucy Activewear Inc., and bebe
with our employees are excellent.
design) and lululemon as a word mark. We
style, distribution and price. We believe that we successfully compete
stores, inc. (including the BEBE SPORT collection).
on the basis of our premium brand image, our focus on women and our technical product innovation. In addition, we believe our vertical
SEASONALITY
retail distribution strategy differentiates us from our competitors and allows us to more effectively control our brand image.
Our business is affected by the general seasonal trends common to the retail apparel industry. Our annual net revenue is weighted more toward
The market for athletic apparel is highly. It includes increasing
our fourth fiscal quarter, reflecting our sales strength during the holiday
competition from established companies that are expanding their
season, while our operating expenses are more equally distributed
production and marketing of performance products, as well as from
throughout the year. A substantial portion of our operating profits are
frequent new entrants to the market. We are in direct competition with
generated in the fourth quarter of our fiscal year. We generated 42% ,
wholesalers and direct sellers of athletic apparel, such as Nike, Inc.,
39% and 41% of our year operating profit during the fourth quarters of
adidas AG and Under Armour, Inc. We also compete with retailers
fiscal 2014, 2013 and 2012 , respectively.
LENT DEVOTIONAL Illustrator Spread Individual Pages
17” x 11” 5.5” x 11”
I had the opporunity to design the 2017 Lenten Devotional for Campus Ministries at Friends University. They originally had the sizing from the Advent Devotional, but wanted to the design and graphics to follow the themes of the Lenten season. I chose to create watercolor graphics and used various brushes for an organic and subtle design while still using the recognizable icons associated with Lent. I chose a more nuetral color pallete of browns, greens and tans to to respect the seriousness of this devotional and also to not overwhelm readers with the typical easter pastel colors. This project was great experience for designing with preset dimmensions, ideas and large bodies of text. Overall, this challenging Lenten Devotional proved to be a very rewarding design job.
Sunday, March 5, 2017 Genesis 2:15-17; 3:1-7 Psalms 32 Romans 5:12-19 Matthew 4:1-11
FIRST WEEK OF LENT On a hill far away, stood an old rugged Cross, The emblem of suff’ring and shame; And I love that old Cross where the dearest and best For a world of lost sinners was slain.
Romans 5:18-19 18 Consequently, just as one trespass resulted in condemnation for all people, so also one righteous act resulted in justification and life for all people. 19 For just as through the disobedience of the one man the many were made sinners, so also through the obedience of the one man the many will be made righteous. Sin and death came into the world through one man, Adam, and because we are descendants of Adam, we are all sinners. Then one man, Jesus, was sent to bring us righteousness to take away sin and death. That is why none is righteous without Christ: “Death through Adam and life through Christ”. Do we receive Christ in our hearts? If we do, how are our lives affecting the community around us? Do we strive to be that positive figure or are our actions the reverse? As we reflect this Lent season, may it fall on our hearts to reflect on these things; and strive to become our brother’s keeper. When we do, we lead each other to the fruit of righteousness so we all have life. May we consider the proverb, “it takes a village to raise a child” as it gives clear meaning to being our brother’s keeper.
FRIENDS UNIVERSITY
If we continue to think of the person walking on the pavement; imagining why they are here; if we understand that everyone around us is fighting something; if we think of the other person’s situation instead of ours; if everyone does that, we become our brother’s keeper at heart and that beam of righteousness may get to the heart of every man. As we aspire to live by these standards, may we resist the temptation to look back just as Jesus did (Matthew 4:1-11) when he was tempted.
LENTEN
In this time of Lent, may we be reminded that death came through man and life through Christ. Our might is not enough to lead our brothers to the fruit of righteousness or from trespasses but when we open our hearts and ask for His guidance, He will speak through us. May we also be reminded that in this season of giving up something, we may be tempted with the same thing we are giving up but His grace will see us through. In our quest to be our brother’s keeper, may His grace be upon our hearts so we are not distracted by anything whatsoever. Amen! Prince Nii Agbedanu Assistant Professor of Biology and Director of Health Sciences
Devotional Guide 2017
2100 W. University Ave. Wichita, KS 67213 friends.edu/campus-ministiries
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MAGAZINE DESIGN Indesign / Photoshop
8.5� x 11�
For this magazine, all information and photos were found specifically for design and layout purposes. Complimentary typefaces in soft blues and classy golds were continued throughout as a cohesive design elemen to separate this magazine from other more abrasive, bright colored beer magazines. Each advertisement was created with that individual company or brand’s design in mind using stock photos and brand information, if provided. My goal was to take simple beer articles and place them in a cohesive and mature, yet still inviting and informative, design that well represents the brewing community as a whole.
2
CONTENT 03 05 09
PEYTON’S OWN BEER
See the new brew dedicated to Peyton Manning himsefl that brought two cities together.
OLD WAYS, NEW BEER Traveling back to “old-school” brewing to make a “new-school” taste.
TRENDS OF 2017
Check out what has all the big beer buffs raging abou this years newest trends and tastes in the brewing world.
EVERY HOUR IS HAPPY IN THE MOUNTAINS.
BREWED
11 12
RCH MA
2017
M
A D E SS N
15
TRENDS OF
2017
WHAT IS THE PREFERRED BEER OF Peyton
DAVID VS. GOLIATH
Are the underdogs of beer starting to overthrow big coorporate names?
SAMPLING AMERICA: PALE ALES
There’s not much more American than a good, cold beer. See what Pale Ales are making it onto our list to this summer.
SAM ADAMS NITRO CANS
Sam Adams hits a home run again with their new and improved Nitro Cans for a more sleek look with the same, bold Sam Adams taste in new flavors.
SAMPLING AMERICA
PALE ALES
Manning
“OLD WAYS, NEW BEER.”
CRAFT BREWS OR BIG BEER?
DON’T BE MADD. THERE IS NEVER A GOOD
DAVID VS GOLIATH
TIME
TO DRINK AND DRIVE.
WITH ANY OTHER BEER IT’S JUST A MONDAY
www.madd.org 877.MADD.HELP
INFOGRAPHIC Illustrator
41” x 11”
While choosing content for this infographic design, I wanted to showcase a topic that I am very passionate about, even though it can be slightly controversial, and present it in an appealing way for all parties. It is intended to hang in various outdoor stores or hunter safety course classrooms. Every aspect of this infographic was created by hand rather than using real photographs in order to keep consumers focused on the educational facts. This was intentionally done to keep non-hunters from being initially interested by an animal picture then turned off by the hunting content. By sticking to general graphics without “faces”, it takes away the negativity that some see with hunting live animals while still being a recognizable topic to hunters. The tones of blue and green were chosen as subtle outdoor colors rather than only using the standard hunter orange. Overall, this ‘Archery vs. Firearms’ infographic was designed to interest and educate both avid hunters and non-hunters in a visually appealing and non-controversial way.
www.graywolfsurvival.com
www.wideopenspaces.com
www.policeone.com
REBRANDING Photoshop / Illustrator
This complete rebranding came about while I was shopping for my dog online. Initially, I chose Growlin’ Gourmet because of their company philosophy and obvious love for animals. I was not, however, drawn in by the logo or website design. Neither one did the company and their mission justice, so I began redesigning their brand. The logo was created first to have a stamp-like appearance so that each bag would present a “hand-stamped” look and give a personal feel to the holistic and homemade nutrition of their dog treats. One founder was originally a professional chef, and I wanted to incorporate that fact throughout the brand with a more professional, sleek, but friendly design. Each package follows the organic theme of Growlin’ Gourmet and showcases the individual products with see through, flavor-shaped windows on the front. The website follows this same sleek, yet friendly design featuring black and white dog photos, a subtle and warm burnt orange as the accent color, and an easily adaptable layout for all forms of technology. Overall, this redesign embodies more of the organic, personal and professional background of the company.
*See the original design at www.growlingourmet.com
SALON BRANDS Illustrator / Photoshop / InDesign
Marketing and running the Social Media platforms for Salon Brands requires constant use of Adobe programs, researching competitors and latest trends, and daily output of design. For this company, I wanted to bring a modern, clean and profession but inviting and fun overall design. I completely “gutted� and redesigned their main website, pairing the red and black logo with a stark white background that would also help various products and designs standout. I kept this clean cut design throughout the entire website while adding large, full-bleed images of different store locations, a professional san-serif typeface, and color pops of that same red and black found in the logo. Overall, the website is now much more consise and user-friendly. When designing fliers, social posts, cards and other handouts, I wanted these prints to be more visually appealing, seasonal when it assisted the marketing aspect, and colorful to give the sales or cards a slight stand out change from the regular branding. Moving to the social media platforms, I wanted Salon Brands to look as professional as every other big-name beauty supply company, yet stand alone as a locally-owned and customer centered business. Instagram, Facebook and twitter all consistently match header and content wise while constantly being updated with new content and information.
All the products for the beautiful you
HALF PRICE
FACIAL WAXING
TODAY!
EYEBROWS
LIPS
SAPVTOE U
CHIN
0 0 . 0 1 $
EVENT BRANDING Branding and marketing events or sales for Salon Brands, I wanted each to be engaging, colorful yet classy and different while still keeping a similar look to recognize as Salon Brands. For example, I kept the classic red and black for the Anniversary Sale graphic but wanted to add a bit more with a opaque background and outer glow to make it stand out amoung the gold confetti. This event logo was designed with future years in mind. Easily changed as the numbers go one but a timeless design that consumers will be able to recognize as the ‘Anniversary Sale’ for next time. Social Media Post, Social Media Header Image and Printed Flier
The nature and timing of the Downtown Sidewalk Sale left more room for a brighter, eye-catching design. I wanted the graphics and typeface to reflect the summer atmosphere and outdoor placement of this particular sale. I stuck with a gradient sky-like background and bright colors that would still stick out among other summer events. Social Media Post, Social Media Header Image and Printed Flier
STUDIO ART Acrylic Charcoal Colored Pencil Graphite
2’ x 3’ 21” x 17” 17” x 11” 5” x 5”
Each piece pictured was created using a different medium. The acrylic painting ‘Trigger’ was inspired by a friend that fights fires and owns a large German Shepherd, henceforth the red background that complements the warmer tones in the dog’s hair. The charcoal piece ‘Bones’ was an in-class assignment that I chose to display due to the difficult and frustrating process of reduction drawing with charcoal that led to a very rewarding finished product. The colored pencil ‘Tupac’ was inspired by many elements from the difficulty of drawing profiles to simply the music and mystery behind Tupac Shakur. Lastly, the graphite sketch ‘Evoking Emotion’ started as a class assignmet conveying emotion through the eyes that expanded to more practice sketching facial expressions.
*’Trigger’ has been shown in Riney Fine Arts Gallery and Tessera Gallery