Chip Wilson

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Chip Wilson

Chip Wilson, 2012
Born Dennis J. Wilson
(1956-03-03) March 3, 1956
Vancouver, British Columbia, Canada
Alma mater University of Calgary (B.A.)
Occupation Founder of Lululemon Athletica
Spouse(s) Shannon Wilson

Dennis J. "Chip" Wilson (born c. March 3, 1956) is a Canadian businessman and philanthropist who has founded several retail apparel companies, most notably yoga-inspired athletic apparel company Lululemon Athletica Inc. (TSX: LLL, NASDAQ: LULU), commonly referred to as lululemon.[1]

Business Ventures

In 1979, Wilson founded his first retail apparel company, Westbeach Snowboard Ltd., which sold apparel targeted at the surf, skate, and snowboard markets. Wilson went on to sell Westbeach in 1997 and founded Lululemon Athletica Inc. in 1998.[2]

Wilson served as CEO of lululemon until 2005 when he sold a 48% minority stake in lululemon to private equity firms Advent International and Highland Capital Partners.[3] In 2007, an initial IPO was offered by Lululemon Athletica Inc. on Canadian and US exchanges.[4] In January 2012, Wilson retired from his executive post as chief innovation and branding officer but remains chairman of the board of directors.[5] In December 2013, Wilson stepped down from his role as non-executive chairman.[6]

Personal life

Wilson graduated with a Bachelor of Arts degree in Economics from the University of Calgary in 1980.[7] He has five sons and is married to Shannon Wilson, the original designer and interim CEO of lululemon. They reside in Vancouver, B.C.

In 2004 Ernst & Young named Wilson as "Canadian Entrepreneur of the Year for Innovation and Marketing".[8] As of 2012 Forbes ranked Wilson as the 10th-wealthiest Canadian and 401st in the world, with an estimated net worth as of March 2013 of $2.9 billion.[9]

Imagine1day

In 2007, Wilson, along with his wife Shannon Wilson, launched imagine1day, a charity dedicated to improving education conditions in Ethiopia. The organization’s goal is that all Ethiopians have access to quality education funded free of foreign aid by 2030.[10]

Criticism

Stephen Colbert mention

Mr. Wilson was the subject of the TV show, Stephen Colbert's segment, "Alpha Dog of the Week" on November 18, 2013 where Mr. Colbert sarcastically criticized the CEO for his views on birth control, racism and recent comments, stating that some women's bodies "just actually don't work" for his company's pants.[11]

References

  1. ↑ "Forbes: Chip Wilson". Retrieved 2012-03-01. 
  2. ↑ "Chip Wilson’s Design Made Lululemon A Winner". Retrieved 2012-06-08. 
  3. ↑ "Lululemon founder Chip Wilson steps down from management, will stay on board". Retrieved 2012-01-06. 
  4. ↑ "Lululemon tries IPO on for size". Retrieved 2007-03-27. 
  5. ↑ "Lululemon founder Chip Wilson steps down from management, will stay on board". Retrieved 2012-01-06. 
  6. ↑ Rohit T. K. and Chris Peters (6 December 2013). "Lululemon names new CEO; founder Chip Wilson to step down". Reuters. 
  7. ↑ "Dance, sing, floss and travel". Retrieved 2004-07-23. 
  8. ↑ "Focus on your future". Retrieved 2012-05-22. 
  9. ↑ "Forbes: Chip Wilson". Retrieved 2013-11-16. 
  10. ↑ http://imagine1day.org/about/our-philosophy#
  11. ↑ "Lululemon Founder Chip Wilson Slammed On 'The Colbert Report' (VIDEO)". HuffingtonPost.ca. November 19, 2013. Retrieved 19 November 2013. 
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