- Lululemon founder Chip Wilson took out a full-page Wall Street Journal ad slamming the company’s leadership, comparing its decline to a “plane crash” and criticizing its lack of innovation
- Wilson was fined $600 by Elections BC for posting unauthorized political signs during the 2024 provincial election, targeting Premier David Eby and the NDP
- Lululemon’s stock has plunged 53.4 per cent in 2025, closing at US$173.48—down over 66 per cent from its all-time high in December 2023
- Lululemon Athletica stock (NASDAQ:LULU) last traded at US$173.48
Lululemon (NASDAQ:LULU), the globally recognized yogawear brand, is once again under fire from its outspoken founder, Chip Wilson, who has launched a scathing public critique of the company’s direction and leadership.
In a full-page advertisement published earlier this week in the Wall Street Journal, Wilson likened Lululemon’s trajectory to a “plane crash” and a “sinking ship,” accusing the board of dismantling the company’s original business model and losing key employees with institutional knowledge. His central grievance: a lack of product innovation and an overemphasis on short-term financial performance.
“Lululemon’s directors have dismantled the business model and lost employees who held the institutional knowledge that made the company great,” Wilson wrote in the ad. He also condemned the company’s 2020 acquisition of Mirror, an in-home fitness startup, for US$500 million—a move he claims squandered US$1 billion and erased US$10 billion in market value.
Lululemon has since ceased selling Mirror and partnered with Peloton Interactive Inc. (Nasdaq: PTON) to provide digital fitness content to its members.
This isn’t Wilson’s first public rebuke of the company he founded in 1998. In 2023, he criticized Lululemon’s diversity and inclusion efforts in Forbes, and in a March 2024 LinkedIn post, he compared the brand to The Gap Inc. (NYSE:GAP), suggesting it had lost its unique identity.
Lululemon responded to Wilson’s latest remarks in a statement to Business in Vancouver, saying:
“Chip Wilson has not been involved with the company for a decade, and he continues to make inaccurate and misleading statements about Lululemon, our history, and our board and leadership team.”
Wilson stepped down from Lululemon’s board in 2015 but remains a significant shareholder. His stake has gradually decreased—from about 9 per cent in 2022 to an estimated 8 per cent last year.
The company’s stock has taken a hit in 2025, down 54.64 per cent year-to-date, closing Thursday at US$173.48—well below its all-time intra-day high of US$516.39 on December 29, 2023.
(Lululemon stock chart – Oct. 2024 – Oct 2025.)
Wilson also criticized Lululemon’s recent collaboration with Walt Disney Co. (NYSE:DIS), calling it “wildly inappropriate” for featuring characters like Mickey Mouse on apparel.
Beyond corporate critiques, Wilson has stirred political controversy. During British Columbia’s 2024 provincial election, he erected signs outside his home attacking Premier David Eby and the NDP, labeling the party “communist.” Elections BC fined Wilson C$600 for violating the Election Act by failing to register as a third-party advertiser before posting the signs.
Despite the fine, Elections BC noted Wilson was cooperative and may have been unaware of the registration requirement as a first-time sponsor. The signs, which had “significant exposure and reach,” were later updated to include proper authorization.
As Lululemon navigates a turbulent year, Wilson’s persistent public criticism continues to cast a shadow over the brand’s leadership and strategic decisions.
Lululemon Athletica Inc. is a technical athletic apparel, footwear, and accessories company for yoga, running, training, and most other activities.
Lululemon Athletica stock (NASDAQ:LULU) last traded at US$173.48 and has lost 1.20 per cent this week, down 37.65 per cent since this time last year.
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