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Lululemon Founder Criticizes Board Amid Stock Decline, Suggests Radical Changes
Lululemon Founder Criticizes Board Amid Stock Decline, Suggests Radical Changes
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BTCCSquare news:
Lululemon founder Chip Wilson launched a scathing critique of the company's board of directors, blaming them for the apparel brand's 54% stock decline this year. In a Wall Street Journal ad and subsequent CNBC interview, Wilson accused leadership of dismantling Lululemon's successful business model, citing the $500 million Mirror acquisition and Disney partnership as missteps.
The athleisure pioneer claims algorithmic trend-chasing replaced creative vision after his departure, leaving the brand struggling to differentiate in a competitive market. Wilson floated drastic solutions—from activist investor intervention to taking the company private, mirroring strategies used by Burlington Stores and BJ's Wholesale Club during their turnarounds.
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