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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(Print or Type Responses)

1. Name and Address of Reporting Person *   Wilson Dennis J. 2. Date of Event Requiring Statement (Month/Day/Year) 07/26/2007 3. Issuer Name and Ticker or Trading Symbol lululemon athletica inc. [LULU] (Last) (First) (Middle) C/O LULULEMON ATHLETICA, 2285 CLARK DRIVE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman&ChiefProductDesigner 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) VANCOUVER, A1 V5N 3G9 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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 Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Shares of LIPO Investments (Canada), Inc. (1)	  (2)	  (3)	Common Stock	6,818,182	$ (1)	D	Â
Shares of LIPO Investments (Canada), Inc. (4)	  (2)	  (3)	Exchangeable shares of Lulu Canadian Holding, Inc.	19,516,615	$ (4)	D	Â
Series TS Preferred Stock (5)	  (2)	  (3)	Common Stock	6,092,171	$ (5)	I	By LIPO Investments (USA), Inc.

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Wilson Dennis J. C/O LULULEMON ATHLETICA 2285 CLARK DRIVE VANCOUVER, A1 V5N 3G9	  X	  X	  Chairman&ChiefProductDesigner	Â

Signatures

/s/ Dennis J. Wilson		07/26/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	These securities will be exchanged for common stock of the Issuer on the effective date of the Issuer's initial public offering in a corporate reorganization.
(2)	Immediately exercisable.
(3)	No expiration date.
(4)	These securities will be exchanged for exchangeable shares of Lulu Canadian Holding, Inc. on the effective date of the Issuer's initial public offering in a corporate reorganization. The exchangeable shares of Lulu Canadian Holding, Inc. will be exchangeable for shares of the Issuer's common stock on a 1-for-1 basis.
(5)	These securities will be exchanged for shares of common stock of the Issuer on the effective date of the Issuer's initial public offering in a corporate reorganization.

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