Lululemon has caught the attention of many value investors lately, as it has fallen almost half from the start of this year (since hitting the peak in Dec last year) due to the slower growth and weak spending consumption, impacting many other consumer discretionary and luxury stocks particularly this year. With the stock currently trading at the ~$250 range as of writing, can we see this an opportunity to purchase a quality business at a reasonable valuation? Is this an appealing opportunity for investors to initiate a position in this stock? Let us dig in more to find out. Business Overview Lululemon Athletica, is a Canadian athletic apparel retailer known for its high-quality yoga pants, leggings, and other athletic wear. Founded in 1998 by Chip Wilson in Vancouver, Canada, Lululemon initially focused on yoga wear before expanding its product line to include a variety of athletic and casual clothing, as well as accessories for men and women....