Retail in Asia

In People

Lululemon founder Chip Wilson may want out

Chip Wilson, who founded Lululemon Athletica and left the company’s board earlier this year after disagreements with fellow board members, is now looking to potentially sell his entire stake in the yoga apparel maker.

Lululemon, which disclosed the news in a regulatory filing on Thursday, said Wilson, his wife and other entities that they control may look to sell more than 20 million shares in the company.

The couple’s stake in the company was worth USD1.34 billion, based on Wednesday’s closing price on the Nasdaq.
 

(Source: CNBC)