Lululemon founder Chip Wilson is starting athletic-brand venture
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As Lululemon’s business has recently grown stagnant, founder Chip Wilson has become increasingly critical of the company’s management. Photo by Contributed/Lululemon Athletica IncArticle contentChip Wilson is building up a business of small athletic-focused brands, according to a person familiar with the matter, setting up new avenues for potential growth for the billionaire founder of Lululemon Athletica Inc.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe venture will include new brands as well as existing small brands, the person said. Wilson hired an operating partner to be part of the new business, which is based in Vancouver, another person with knowledge of the plan said.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentWilson, whose wealth is estimated at US$7.2 billion, is a major investor in Amer Sports Inc., the company that owns bigger brands like Arc’teryx apparel, Wilson tennis gear and other sporting lines. He holds nearly 13 per cent of the shares in Amer as of March 18 through his entity Anamered Investments, according to data collected by Bloomberg. Amer went public in a 2024 initial public offering.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“Chip Wilson has been an investor in technical apparel for years,” a spokesman for Wilson said in an emailed response to Bloomberg News. “Chip has recently created a new structure to bring additional focus to its investments in early-stage, founder-led companies. Chip remains passionate about supporting founders and leading innovation in the technical apparel space.”Article contentWilson has diversified his holdings since building up his fortune with Lululemon, which pioneered the athleisure category and experienced exponential sales growth after going public in 2007. More recently, Lululemon’s business has stagnated, leading Wilson to become increasingly critical of the company’s management and push for an overhaul of its board.Article contentHe’s also co-founder of the House of Wilson holding company, which manages the “initiatives, investments and community impact efforts of the Wilson family” and has holdings in private equity and real estate, along with charitable endeavours.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending Brace for gas price 'shock' in inflation numbers out Monday, say economists Economy Canadian quantum company Xanadu soars to $16 billion valuation after Nvidia release Innovation How much money should Gerry, in his 70s, have in equities, bonds and cash?
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