Lululemon Athletica disclosed in a filing on Thursday that its founder, Dennis J. Wilson, may sell his entire stake in the yoga wear maker, paving the way for Mr. Wilson to end an association that had become contentious.
Mr. Wilson, who founded Lululemon in 1998 with a shop that shared a space with a yoga studio in Vancouver, British Columbia, holds 14 percent of the company’s outstanding shares, a stake valued at about $1.2 billion. That stake includes shares held by his family and by LIPO Investments, a firm that Mr. Wilson controls.
Lululemon shares were down 1.4 percent in early trading on Thursday after the sales possibility was disclosed in a company filing.
Mr. Wilson made a fortune selling stretchy, $100 yoga pants as a symbol of an upscale, active lifestyle, a marketing effort that helped give rise to an “athleisure” boom in fashion that other labels have scrambled to join. Continue reading >>
New York Times