Form 3 Schweitzer Delaney For: Jun 10 (10K)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Schweitzer Delaney

(Last)

(First)

(Middle)

C/O LULULEMON ATHLETICA INC, 2285 CLARK DRIVE

(Street)

VANCOUVER A1

V5N 3G9

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/10/2009

3. Issuer Name and Ticker or Trading Symbol
lululemon athletica inc. [lulu]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Vice Pres. Retail Operations

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	12/27/2007⁽¹⁾	12/27/2016	Common Stock	6,433 ⁽¹⁾	$ 0.49	D
Stock Option (Right to Buy)	12/27/2007⁽²⁾	12/27/2016	Common Stock	29,301 ⁽²⁾	$ 0.6	D
Exchangeable Shares of Lulu Canadian Holding, Inc. ⁽³⁾	⁽³⁾	⁽⁴⁾	Common Stock	12,460 ⁽³⁾	$ 0	D

Explanation of Responses:

1. Reporting person received a grant on December 27, 2006 of 8,577 stock options. This grant vested as to 25% on each of December 27, 2007 and December 27, 2008 and will vest as to 25% on each of December 27, 2009 and December 27, 2010. Of this total grant amount, the reporting person previously exercised 2,144 stock options.

2. Reporting person received a grant on December 27, 2006 of 39,067 stock options. This grant vested as to 25% on each of December 27, 2007 and December 27, 2008 and will vest as to 25% on each of December 27, 2009 and December 27, 2010. Of this total grant amount, the reporting person previously exercised 9,766 stock options.

3. Reporting person received a grant on July 26, 2007 of 90,836 exchangeable shares of Lulu Canadian Holding, Inc. which, upon vesting, exchange on a 1-to-1 ration with and into lululemon athletica, inc. common stock. Of this total grant, 88,353 exchangeable shares were fully vested as of December 5, 2008 and the remaining 2,483 exchangeable shares will vest on December 5, 2009. Of this total grant amount, the reporting person previously exchanged 78,376 shares.

4. No expiration date.

	Delaney Schweitzer, by David Negus, Attorney-in-Fact	06/19/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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