The founder of Lululemon "slapped his brand in the face" in a new interview.
He criticized the Vancouver-based apparel company's diversification efforts.
In an article published by Forbes this week, Chip Wilson, a 68-year-old Canadian businessman, expressed his revulsion at Lululemon's "entire diversity and inclusion efforts."
Mr. Wilson said the people the company used in its ads were "unhealthy," "morbid" and "not encouraging."
He scoffed at Lululemon's current "unbusiness" approach to business.
Wilson added that he feels Lululemon is trying to be a brand for everyone, like Gap. "The definition of a brand is that you're not all categories for everyone," he says...... You have to be clear that you don't want certain customers to come in. ”
On Thursday (January 4) morning, a spokesperson for lululemon said that Wilson did not speak on behalf of lululemon and that his remarks did not reflect the views or beliefs of the company.
"Wilson has not been involved in the affairs of the company since he stepped down from the board in 2015, and today we are a very different company," they said in an email. They emphasized the brand's commitment to creating and nurturing an inclusive, diverse and welcoming atmosphere.
This is not the first time Wilson has shared a similar sentiment.
Wilson was controversial in 2013 when he told Bloomberg that some women's bodies were not suitable for the company's products.
"Frankly, some women don't fit in [yoga pants]," he said, "and they need to focus on how much pressure their legs put on yoga pants." ”
The announcement caused an uproar, and Wilson, who founded Lululemon in 1998, eventually resigned from the company and relinquished his seat on the board, but remained a shareholder.
Founder in a wheelchair
The good news is that, with the exception of Lululemon, Wilson is doing a good job in everything else.
Wilson now devotes his time to real estate and private equity investments while working on finding a cure for muscular dystrophy, a condition he was diagnosed with.
He was diagnosed with the condition more than 30 years ago, more than a decade before he founded Lululemon, but he didn't announce his diagnosis until 2022.
This is a rare muscular dystrophy known as facioscapulohumeral muscular dystrophy (FSHD) that slowly erodes muscle strength in the upper body and shoulders.
In March 2022, the Vancouver-based billionaire said he had pledged the equivalent of $75 million to a new charity he had founded, which aims to eradicate FSHD by 2027 or he would otherwise need to be in a wheelchair for years to come.
So far, the organization, Solve FSHD, has given nearly $31 million to academics and entrepreneurs who have creative ideas on how to slow the progression of the disease or cure it altogether, giving hope to a long-neglected group.
Play with real estate investment
Another area where Wilson has had a lot of luck is Canadian real estate. He owns the most expensive home in B.C.
B.C.'s most valuable residential property, owned by billionaire Lululemon founder Wilson, is worth about $1 million more than the previous year's appraised value, according to new data released by B.C. Property Appraisal Agency.
The 15,000-square-foot, seven-bedroom, nine-bathroom and tennis court home is valued at $74,089,000 on Vancouver's mansion-lined Point Grey Road, up 1.3 per cent or $942,000 from the previous year.
And that's just the tip of his real estate empire. He founded Low Tide Properties in 2010 with his friend and real estate executive David Ferguson and began buying commercial real estate all over Vancouver. According to Forbes' conservative estimates, Wilson's 36 properties listed on the Low Tide website, some of which are co-owned with other real estate companies, as well as his stake in his mansion, are worth about $500 million.