UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

o

Rule 13d-1(b)

o

Rule 13d-1(c)

x

Rule 13d-1(d)

CUSIP No. 550021109

Item 1.

(a)

Name of Issuer
lululemon athletica inc.

(b)

Address of Issuer’s Principal Executive Offices
2285 Clark Drive,
Vancouver, British Columbia, V5N 3G9

Item 2.

(a)

Name of Person Filing

Highland Capital Partners VI Limited Partnership, a Delaware limited partnership (“Highland Capital VI”); Highland Capital Partners VI-B Limited Partnership, a Delaware limited partnership (“Highland Capital VI-B”); Highland Entrepreneurs’ Fund VI Limited Partnership, a Delaware limited partnership (“Highland Entrepreneurs’ Fund” and together with Highland Capital VI and Highland Capital VI-B, the “Highland Investing Entities”); HEF VI Limited Partnership, a Delaware limited partnership and general partner of Highland Entrepreneurs’ Fund (“HEF VI”); Highland Management Partners VI Limited Partnership, a Delaware limited partnership and general partner of Highland Capital VI and Highland Capital VI-B (“HMP VI”); Highland Management Partners VI, Inc., a Delaware corporation (“Highland Management”) and general partner of both HEF VI and HMP VI; Robert F. Higgins (“Higgins”), a senior managing director of Highland Management and a limited partner of each of HMP VI and HEF VI; Paul A. Maeder (“Maeder”), a senior managing director of Highland Management and a limited partner of each of HMP VI and HEF VI; Daniel J. Nova (“Nova”), a senior managing director of Highland Management and a limited partner of each of HMP VI and HEF VI; Sean M. Dalton (“Dalton”), a managing director of Highland Management and a limited partner of each of HMP VI and HEF VI; Fergal J. Mullen (“Mullen”), a managing director of Highland Management and a limited partner of each of HMP VI and HEF VI; and Corey M. Mulloy (“Mulloy” and together with Higgins, Maeder, Nova, Dalton, and Mullen, the “Managing Directors”), a managing director of Highland Management and a limited partner of each of HMP VI and HEF VI.

(b)

Address of Principal Business Office or, if none, Residence

The address of the principal business office of Highland Capital VI, Highland Capital VI-B, Highland Entrepreneurs’ Fund, HEF VI, HMP VI, Highland Management, Higgins, Maeder, Nova, Dalton, Mullen and Mulloy is 92 Hayden Avenue, Lexington, MA  02421.

(c)

Citizenship
Highland Capital VI

Highland Capital VI-B

Highland Entrepreneurs’ Fund

HEF VI

HMP VI

Highland Management

Mr. Higgins

Mr. Maeder

Mr. Nova

Mr. Dalton

Mr. Mullen

Mr. Mulloy

Delaware

Delaware

Delaware

Delaware

Delaware

Delaware

United States

United States

United States

United States

United States

United States

(d)

Title of Class of Securities
This Schedule 13G report related to the Common Stock, par value $0.01 per share (the “Common Stock”), of lululemon athletica inc.

(e)

CUSIP Number
550021109

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not Applicable.

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)

o

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)

o

A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h)

o

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.

Ownership

Not Applicable.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)

Amount beneficially owned:   

(b)

Percent of class:   

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote   

(ii)

Shared power to vote or to direct the vote    

(iii)

Sole power to dispose or to direct the disposition of   

(iv)

Shared power to dispose or to direct the disposition of   

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following   x.

Each Reporting Person has ceased to own beneficially more than 5% of the outstanding Common Stock of lululemon athletica inc.

All other items reported on the Schedule 13G dated as of February 13, 2008 and filed on behalf of the Reporting Persons with respect to the Common Stock of lululemon athletica inc. remain unchanged.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not Applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

Not Applicable.

Item 8.

Identification and Classification of Members of the Group

Each of the Reporting Persons expressly disclaims membership in a “Group” as defined in Rule 13d-1(b)(ii)(J).

Item 9.

Notice of Dissolution of Group

Not Applicable.

Item 10.

Certification

Not applicable. This Schedule 13G is not filed pursuant to Rule 13d-1(b) or Rule 13d-1(c).

Dated: February 20, 2008

HIGHLAND CAPITAL PARTNERS VI LIMITED PARTNERSHIP

By:

Highland Management Partners VI Limited Partnership, its general partner

By:

Highland Management Partners VI, Inc., its general partner

By:

/s/ Daniel J. Nova

Managing Director

HIGHLAND MANAGEMENT PARTNERS VI, INC.

By:

/s/ Daniel J. Nova

Managing Director

/s/ Robert F. Higgins

Robert F. Higgins

/s/ Paul A. Maeder

Paul A. Maeder

/s/ Daniel J. Nova

Daniel J. Nova

/s/ Sean M. Dalton

Sean M. Dalton

/s/ Fergal J. Mullen

Fergal J. Mullen

/s/ Corey M. Mulloy

Corey M. Mulloy