Lululemon is replacing the Hudson's Bay Company as Team Canada's new "official outfitter" for all Olympic and Paralympic games until at least 2028.

The DRAMA! Right? I mean, as far as Canadian mainstream retail fashion goes, this is about as dramatic as it gets.

Okay so, basically, The Canadian Olympic Committee just announced that it has recently dumped its longtime official clothier for a younger, sexier company.

Founded in 1670, HBC (North America's oldest company) has been dressing Canadian athletes at the Olympics and Paralympics since 2005, when they won the contract away from Roots, another OG on the apparel scene in our home and native land.

Now, starting with the Winter Games in 2022, lululemon will have the privilege of designing Team Canada's Olympic gear.

Inspire, unite and transform the world together through sport. 🤝

We are proud to welcome @lululemon as Official Outfitter of #TeamCanada through 2028. ✨

Details: https://t.co/v8xVnCL4XJ pic.twitter.com/Z3xMAavavb

— Team Canada (@TeamCanada) September 23, 2021

"As a Canadian and lifelong fan of the Games, I could not be prouder for lululemon to partner with the Canadian Olympic Committee and Canadian Paralympic Committee," said the Vancouver-born multinational's CEO Calvin McDonald in a press release.

"Through this partnership, all of us at lululemon are honoured to play our part to inspire, unite and transform the world through sport and share in this excitement alongside all of Canada."

The brand is also excited to make lots and lots of money, one would assume, both from the sales of their Olympic-branded gear and from investors who, in the wake of today's announcement, have driven lululemon share values to a new all-time high.

Lululemon hit a new all-time high today. Here's what its earnings outlook looks like. Forward P/E of 56. $LULU (I own it) pic.twitter.com/EmiuJ32yNC

— Tracey Ryniec (@TraceyRyniec) September 23, 2021

It's not clear why the COC decided to leave HBC for lulu, but some speculate it may have had something to do with those horrible Canadian tuxedo outfits they put out during the last Olympic Games.

lol the bay aught to have known they'd lose the olympic contract after those hideous jean jackets for tokyo

— the one and only smoonie (@smoonie) September 23, 2021

While they did just land an exclusive contract with the NBA's Toronto Raptors, The Bay has been experiencing some troubles in recent years amid the COVID pandemic.

The ugly jackets for Tokyo didn't help curry any favour among the public, but HBC is pretty much squeaky clean compared to lululemon when it comes to controversies.

From false advertising and copyright infringement to allegations of racism and fat-shaming, some Canadians are wondering why on earth the COC would choose lululemon of all potential partners.

Lululemon is kinda known for fat-shaming, why are they outfitting #TeamCanada ?

— jeannette goulin (@jeannettegoulin) September 23, 2021

Others are having fun imagining what a brand known for outfitting skinny, white, west-coast yoga moms might produce as Olympic gear.

If Lululemon is clothing Olympic athletes, just go ahead and complete the Going to the Mountains look at the next opening ceremonies:

Lululemon outfit 🧘🏽
Venti Starbucks in one hand ☕️
Cell in the other🤳🏽
Toque and sunglasses on top 👲🏽🕶️
Boots on the bottom. 👢#teamcanada https://t.co/zw74oB2vtw

— Lucas Meyer (@meyer_lucas) September 23, 2021

The Team Canada release explains that lululemon was chosen for its commiment to "designing technical and innovative product for and with athletes."

"lululemon has long been a champion of sport — helping athletes in Canada, and around the world, push their limits and perform and feel their best," reads the release, noting that the partnership "will also include the development of experiences and tools to help athletes maximize their potential both on and off the field of play."

Can't wait to scoop up some lululemon x Team Canada merch? You are conveniently in luck: a new $38 "Future Legacy Bag" from the collection is already available starting today, with 10 per cent of sales supporting the Canadian Olympic Foundation and Paralympic Foundation of Canada.

We’ve joined Team Canada as their Official Outfitter, starting with the 2022 Olympic and Paralympic Winter Games. Together, our purpose is to inspire and unite Canada through the transformative power of sport: https://t.co/xvWC30m6KW pic.twitter.com/XeaSUlHEqA

— lululemon (@lululemon) September 23, 2021

"Also on sale today is a selection of Team Canada apparel and accessories available online and in lululemon stores across Canada," reads the release. "The Team Canada athlete kit, along with additional designs available to consumers, will be revealed next month."

Please don't be spray paint on denim again. Canada deserves better than that.