As one of the world's most recognized brands, (NYSE: NKE) is a name that is all too familiar with consumers and investors alike. The business has come to dominate the athletic apparel and footwear industries, generating $51.6 billion in trailing-12-month revenue and sporting a market capitalization of $143 billion.

However, this consumer-discretionary stock hasn't made for a smart investment. Its shares are down 30% in the past three years compared to a 19% gain in the S 500. If you want to buy Nike on the dip, think again. You should seriously consider buying this magnificent growth stock instead.

Between fiscal 2018 and fiscal 2023, this company reported revenue and earnings per share (EPS) growth of 24% and 28%, respectively. It competes in the same industry as Nike, but it has been posting much stronger fundamentals. I'm talking about Lululemon Athletica (NASDAQ: LULU).

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Source Fool.com