In the heart of New York City’s West Village, Chip Wilson, the towering founder of athleisure giant Lululemon, maneuvers through challenges both physical and professional. Despite selling most of his stake, he retains an 8% share, valued at $7 billion, making him the company’s largest individual shareholder. Wilson, diagnosed with a rare form of muscular dystrophy, is on a mission to combat the disease, pledging millions to his organization, Solve FSHD, as he grapples with his own physical limitations.
The struggle continues – A legacy beyond Lululemon
Wilson’s battle extends beyond the boardroom, focusing on the fight against facioscapulohumeral muscular dystrophy (FSHD). His organization, Solve FSHD, has injected nearly $31 million into research, offering hope to a community often overshadowed by more severe muscular diseases. Despite his own health challenges, Wilson’s commitment to eradicating FSHD by 2027 is unwavering.
Since his departure from Lululemon in 2013, Wilson’s relationship with the brand has been fraught with tension. Despite his critical role in its success, he’s been an outspoken critic of its leadership, feeling alienated as the company thrives without him. While Lululemon’s stock continues to soar, Wilson grapples with a complex legacy, unable to completely sever ties with the brand he built.
A rollercoaster of success and failure
In the aftermath of leaving Lululemon, Wilson ventured into a family venture—Kit & Ace. While the brand aimed for a billion-dollar valuation, it faced a decline, leading to its eventual sale. Today, Kit & Ace, now under Unity Brands, stands as a testament to Wilson’s attempts to replicate his previous success.
Wilson’s foray into sportswear continued with a successful partnership with Chinese giant Anta Sports Products, acquiring Amer Sports for $5.2 billion. His focus on transforming Amer’s brands has yielded a 30% increase in net sales. Simultaneously, Wilson’s real estate empire, Low Tide Properties, thrives in the competitive Vancouver market, diversifying into Seattle and focusing on the growing life sciences sector.
The ambivalence of success without Wilson – A lasting legacy
As Lululemon flourishes post-Wilson, his critiques of the company’s direction remain. Disparaging its moves into inclusive marketing and fashion-focused apparel, he questions the essence of the brand. Despite Wilson’s skepticism, Lululemon’s stock continues to rise, showcasing the brand’s ability to adapt without its founder.
Whether criticizing Lululemon or propelling ventures beyond, Wilson remains intertwined with his legacy. His impact on the athleisure industry is undeniable, yet the struggle to move on persists. As he navigates the uncharted territories of health challenges, philanthropy, and diverse investments, the question lingers: Can Chip Wilson truly find a new legacy beyond the brand he helped create?
In the wake of Lululemon’s remarkable success, Chip Wilson’s journey unfolds—a decade-long struggle, a fight against a rare disease, and ventures beyond the brand he founded. As he grapples with the complexities of a legacy that refuses to fade, one wonders: Can Wilson truly let go, or will Lululemon forever be a part of his narrative, for better or worse?
Source: https://www.cryptopolitan.com/lululemons-founder-chip-wilson-billionaire/