Lululemon Founder Chip Wilson Launches New Athletic Brand Venture
Chip Wilson, the billionaire founder of Lululemon Athletica Inc., is embarking on a new business endeavor by establishing a venture dedicated to small athletic-focused brands. This move comes as Wilson continues to diversify his investments beyond the iconic athleisure company he built.
Expanding Beyond Lululemon
According to sources familiar with the matter, Wilson's new venture will include both new and existing small brands in the athletic sector. He has hired an operating partner to assist with the business, which is based in Vancouver. This initiative represents a strategic shift for Wilson, who has been vocal about his dissatisfaction with Lululemon's recent performance.
Wilson's wealth is estimated at US$7.2 billion, and he holds a significant stake in Amer Sports Inc., the parent company of brands like Arc'teryx and Wilson tennis gear. As of March 18, he owns nearly 13 percent of Amer Sports shares through his investment entity, Anamered Investments. Amer Sports went public in 2024, further expanding Wilson's portfolio.
Criticism and Diversification
In recent years, Lululemon has faced stagnation in its business growth, prompting Wilson to become increasingly critical of the company's management. He has advocated for a board overhaul to address these challenges. Meanwhile, Wilson has been actively diversifying his holdings since Lululemon's initial public offering in 2007, which catapulted the brand to global success.
A spokesman for Wilson stated, "Chip Wilson has been an investor in technical apparel for years. He 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."
Broader Business Interests
Beyond this new venture, Wilson is also a co-founder of the House of Wilson holding company, which manages various initiatives, investments, and community impact efforts for the Wilson family. This includes holdings in private equity, real estate, and charitable endeavors, showcasing his multifaceted approach to business and philanthropy.
As Wilson forges ahead with his latest athletic brand venture, industry observers are watching closely to see how this will impact the competitive landscape of the sportswear market. His track record with Lululemon suggests a keen eye for innovation, but the success of this new endeavor remains to be seen amid ongoing challenges in the sector.
