lululemon(US:LULU) Sou Hu Cai Jing·2026-01-09 04:41Core Viewpoint - Chip Wilson, the founder of lululemon, has initiated a proxy battle to regain control of the company amid significant challenges, including a recent CEO departure and a nearly 50% drop in stock price over the past year [1][3][22]. Group 1: Proxy Battle and Leadership Changes - Wilson announced his proxy fight to nominate three independent board candidates, aiming to restructure the board at the 2026 shareholder meeting [3][22]. - The timing of Wilson's announcement is notable, coinciding with the unexpected resignation of former CEO Calvin McDonald, who had successfully increased lululemon's revenue to $11 billion over seven years [19][20]. Group 2: Criticism of Current Management - Wilson has publicly criticized lululemon's current management for losing the brand's essence and focusing too much on financial metrics rather than innovation and long-term vision [6][15]. - He argues that the board has prioritized short-term financial results over creative leadership, leading to a decline in brand identity and market position [10][14]. Group 3: Historical Context and Personal Stakes - Wilson's loss of control began in 2005 when he diluted his ownership by bringing in private equity, which led to a shift in power dynamics within the board [21]. - Despite his past controversies, including the "see-through yoga pants" incident in 2013, Wilson's desire to reclaim influence over lululemon reflects his ongoing attachment to the brand [4][21]. Group 4: Future Outlook and Recommendations - Wilson believes that lululemon can recover by refocusing on product innovation and brand reputation rather than merely chasing growth [18]. - He emphasizes the need for a revitalized board that prioritizes creative leadership and reconnects with the brand's original muse, the empowered woman [17][18].