Lululemon Athletica Inc. CEO Chip Wilson resignation good news for Vancouver style?
When MSN Travel dumped Vancouver in one of the world's three "worst-dressed cities" category, it blamed our bad look on certain "insanely popular yoga gear brand which will go unnamed."
If you're looking at and/or holding a grudge against Lululemon Athletica Inc. (because which yoga brand is more "insanely popular," really?) for our city's fashion fail, you might be happy to know that founder Chip Wilson, the man behind the pants that let women's "wobbly bits and fat deposits" all hang out, has stepped down from the executive position at the famous yoga retailer.
Wilson will resign as chief innovation and branding officer on January 29 but carry on as chairman of the board of directors.
"I remain deeply committed to the company’s continued success and given the strength we’ve built into the organization over the past three years, I feel comfortable leaving the company with [CEO] Christine Day at the helm of a world class management team whom I fully believe will continue to elevate our world. I look forward to continuing to contribute in my role as Chairman of the Board," Wilson said in a press release Friday.
Wilson founded the outfit in 1998, and opened the first lulu store in Kitsilano in 2000. As of March 2011, Wilson's estimated networth was $1.9 billion with organization revenues of $700 million, Celebrity Net Worth states. Wilson'salso linked to the big-ticket Point Grey mansion--worth $37.2--million--currently the most valuable home in Vancouver.
Laugh a little, cry a little, but heed these words from "Lululemon's words of widsom "sweat once a day."