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Agreement#: AG-338573
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Subscription Agreement Dated As of April 12, 2006

Effective Date: April 12, 2006
Parties:

Lululemon Athletica

Sectors: Consumer Products (Non-Durables)
Governing Law:  Delaware
EXHIBIT 10.25 SUBSCRIPTION AGREEMENT This SUBSCRIPTION AGREEMENT (this " Agreement" ), dated as of April 12, 2006, is by and among Rhoda Pitcher (the " Subscriber" ) and Lulu Holding, Inc., a Delaware corporation (the " Corporation" ). Background In accordance with the terms and conditions set forth in this Agreement, the Corporation desires to sell to the Subscriber and the Subscriber desires to purchase from the Corporation certain shares of the capital stock of the Corporation. NOW, THEREFORE, in consideration of the covenants, agreements, representations and warranties contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: Agreement Section 1 . The Subscriber hereby subscribes for and agrees to purchase the shares of capital stock of the Corporation as listed on Annex I adjacent to the Subscriber' s name (the " Securities" ), for the purchase price listed on Annex I .The Subscriber shall remit payment, denominated in Canadian Dollars, to the Corporation, in exchange for the Securities, by wire transfer in accordance with the instructions of the Corporation. Simultaneously with such payment, the Subscriber shall execute a counterpart signature page to the Stockholders Agreement in substantially the form attached hereto as Exhibit A and a counterpart signature page to the Registration Rights Agreement in substantially the form attached hereto as Exhibit B. Section 2 . The Subscriber acknowledges that this subscription is irrevocable but conditioned upon acceptance by the Corporation. As soon as practicable after the acceptance hereof, the Corporation shall cause to be delivered to the undersigned certificates representing the Securities registered in the name of the undersigned. The Corporation represents to the undersigned that the Securities, when issued and delivered in accordance with this Agreement, will be duly authorized, validly issued, fully-paid and non-assessable. Section 3 . The Subscriber represents and warrants as follows: (a) The Securities to be acquired under this Agreement are being acquired by the Subscriber for investment and not as a nominee or agent for the benefit of any other person, and the Subscriber has no current intention of distributing, reselling or assigning the Securities in violation of the Securities Act of 1933, as amended (the " 1933 Act" ). (b) The Subscriber understands that the Securities have not been registered under the 1933 Act, or under the laws ...

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