I’m not a fan of Lululemon but I like Chip Wilson! He keeps it real and he seems to have a kick ass sense of humour. Once he sells his stake in Lululemon for the reported 1.34 billion, he most definitely will have the time and cash to finally ramp up his next company – Foolisch Engineering Inc.
Chip Wilson, who founded Lululemon Athletica Inc (LULU.O -1.05%) and left the company’s board earlier this year after disagreements with fellow board members, is now looking to potentially sell his entire stake in the yoga apparel maker.
Lululemon, which disclosed the news in a regulatory filing on Thursday, said Wilson, his wife and other entities that they control may look to sell more than 20 million shares in the company.
The couple’s stake in the company was worth $1.34 billion, based on Wednesday’s closing price on the Nasdaq.