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"Lululemon has created an amazing market," he added. "Every time, you do that, the competitive landscape gets more intense."
Potdevin, who will move to Vancouver from Los Angeles, said he leads an active lifestyle. He often bikes to work or "hits the gym." He said he has done some yoga.
Shares of Lululemon Athletica Inc. slipped 28 cents to $70.06 in early afternoon trading Tuesday. The stock is down about 8 percent for the year and has been choppy since March when the company pulled the "see-through" yoga pants off shelves.
Lululemon hired a new product chief in late October, bringing in a Kmart leader to help fill a role left vacant after the see-through yoga pants snafu.
Potdevin became president of Toms Shoes in 2011. He spearheaded the expansion of the brand in 12 countries in the last 12 months. Before that, he spent more than 15 years at snowboard company Burton Snowboards in various positions, and as CEO from 2005 to 2010. He began his career in 1991 at French luxury goods purveyor LVMH.