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It's Thursday December the 8 around 6:22AM and

Lululemon Founder Sells 48% for $108 million

lululemonpants.jpg
Founder Chip Wilson has sold a 48% stake in his Lululemon Athletica Inc. worth $108 million. He will share $8 million with the 650 employees worldwide (which is an average of over $12,000) - not a bad little pre-Christmas bonus. [Vancouver Sun]
This new arrangement gives Lululemon the expertise it needs to became truly a global player, Wilson said. He will remain as the company's CEO and also takes on the role of chairman. Robert Meers, former CEO of Reebok International will be acting as a consultant to the company with the intention of becoming CEO in the future, Wilson said. But Wilson hopes he will be able to learn from Meers and step back into that role some day in the future.

Here's the press release from the new stakeholder, Advent.

Posted by Jackson Murphy | Link | Comments (2)

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Comments

Posted by: Graham

December 8, 2005 06:56 AM

Mmmm.... That's good bonus.

Posted by: Mike @ Kitsilano.ca

December 8, 2005 07:24 PM

Mmmmm... Kitsilano ass pants!

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