A decade after parting ways with his yoga-inspired fashion empire, Lululemon, amidst controversy, billionaire Chip Wilson continues his quest for a new legacy. Despite facing physical challenges due to a rare genetic disorder, the 67-year-old entrepreneur, estimated to be worth $7 billion, remains actively engaged in various endeavors. These include his commitment to battling facioscapulohumeral muscular dystrophy (FSHD) through the organization Solve FSHD, which he founded and funded with a $75 million pledge to eradicate the disease by 2027.
Wilson, the outspoken founder who left Lululemon in 2013 following controversial remarks, has been candid about his health struggles and dedicated efforts to combat FSHD, a disease he has battled for over three decades. The Solve FSHD organization has already allocated nearly $31 million to support research initiatives targeting FSHD, bringing hope to a community often overshadowed by more severe muscular diseases.
In his pursuit of a new legacy beyond Lululemon, Wilson, the company’s largest individual shareholder, has faced challenges. Despite a successful pandemic-driven surge that doubled Lululemon’s revenue to over $8 billion, Wilson, who sold three-fourths of his stake, has not fully capitalized on the firm’s financial success. The Lululemon juggernaut, now the seventh-largest apparel company globally with a market cap exceeding $60 billion, continues to thrive without him.
Undeterred, Wilson shares his journey since leaving Lululemon, marked by both setbacks and triumphs. While his venture into a new apparel brand, Kit & Ace, faced obstacles and eventually sold to Unity Brands, Wilson found success by collaborating with Chinese investors in the acquisition of Amer Sports, the parent company of Arc’teryx. This move has proven fruitful, with Amer’s net sales surging over 30% from $2.9 billion in 2021 to $3.7 billion in 2022. An upcoming U.S. IPO could potentially double the value of Wilson’s investment to $2.7 billion.
In addition to his strategic investments, Wilson has carved a niche in Canadian real estate through Low Tide Properties. His real estate portfolio, valued conservatively at $500 million, includes the most expensive home in British Columbia and numerous commercial properties across Vancouver and Seattle. With a focus on the burgeoning life sciences sector in Vancouver, Wilson’s real estate endeavors aim to create a sustainable community in False Creek Flats.
While real estate may not be his primary passion, Wilson’s enthusiasm remains centered around sportswear. In a candid interview, he expresses his reservations about Lululemon’s current direction, criticizing aspects like inclusive marketing and forays into fashion-focused apparel. Despite his disagreements with Lululemon’s choices, the company’s stock has soared by nearly 60% over the past year.
In conclusion, Wilson’s post-Lululemon journey reflects a mix of challenges, triumphs, and an unwavering commitment to make a lasting impact beyond his association with the iconic brand. Whether through battling FSHD, strategic investments, or real estate ventures, Wilson continues to shape a legacy that transcends his past controversies and contributions to Lululemon.