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Chip Wilson Steps Down From Lululemon Board of Directors

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The founder of Lululemon and local Vancouverite, Chip Wilson, has decided to step down from the company’s board of directors.

Chip believes the Vancouver-based company is back on track after recently losing in the retail world.

“I am happy to say that I now believe the company has returned to the core values that made it great – product, brand and culture – and is back on track,” said Chip Wilson in a press release.

Lululemon made its debut in 1998 headed by Wilson. The company quickly grew in popularity and opened doors to over 250 stores across the world. In 2012, Wilson stepped down from Chief Innovation and Branding Officer of Lululemon but quickly returned in 2013 after the company was hit with the “see-through pants controversy” and other complaints.

“Upon returning from Australia, I saw that the company had lost its way and was driven by the wrong values. Trying to affect a fundamental shift in direction is hard and I had to raise a strong voice to make myself heard while taking decisive action to implement change,” said Chip Wilson.

Wilson also sold 50% of his shares in Lululemon for $845 million in August, 2014. He then used that funding to invest in Advent International.

Wilson now plans to slowly step away from Lululemon and help his wife and son grow their new streetwear brand: Kit & Ace.

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