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Lululemon Athletica’s (LULU) shares have come under mounting pressure in recent years, prompting renewed scrutiny from investors about the company’s strategy and leadership.<\/p>\n
Among the most vocal critics is the brand’s founder, Chip Wilson, who remains one of Lululemon’s largest shareholders, despite stepping away from the company’s board more than a decade ago.<\/p>\n
The company’s stock has fallen nearly 20% year to date as of March 9, 2026, and is down more than 44% over the past five years, according to market data.<\/p>\n
Now, Wilson is taking his concerns a step further by launching a public campaign to reshape the company’s leadership.<\/p>\n
Lululemon founder launches “Creativity First Lulu” campaign<\/p>\n
Wilson recently launched a campaign website called “Creativity First Lulu,” calling for major changes to Lululemon’s board of directors and leadership structure. <\/p>\n
On the website, Wilson argues that the athletic apparel company “has lost its way” and requires immediate leadership changes to restore creativity and innovation.<\/p>\n
“Prioritizing short-term goals at the expense of creativity and product innovation has led to the erosion of shareholder value,” wrote Wilson on the website.<\/p>\n
Wilson claims the company’s current strategy has destroyed 65.9% of shareholder value, and argues the current board lacks the independence and vision needed to address Lululemon’s challenges.<\/p>\n
He also criticized the board’s handling of CEO succession, saying it cannot be trusted to oversee the process without first undergoing structural changes. <\/p>\n
One of Wilson’s key proposals is to declassify the board, which would require all directors to stand for election every year rather than serving staggered terms. <\/p>\n
According to Wilson, the current structure limits accountability and raises concerns about board independence.<\/p>\n
“Only a refreshed Board with creativity and innovation at the center can affect these changes,” wrote Wilson on the website.<\/p>\n
To support his campaign, Wilson has nominated three candidates to join the board.<\/p>\n
Lululemon board candidates proposed by Chip WilsonMarc Maurer: Former co-CEO of On Holding AG (ONON)Laura Gentile: Former CMO at ESPN, Inc. Eric Hirshberg: Former CEO of Activision Publishing, Inc.<\/p>\n
Lululemon’s founder, Chip Wilson, launches the “Creativity First Lulu” campaign website.<\/p>\n
Shutterstock<\/p>\n
A decade of criticism from Lululemon’s founder<\/p>\n
Wilson has publicly criticized Lululemon’s leadership for years, despite stepping away from the board in 2015.<\/p>\n
He previously resigned as chairman in 2013 following backlash over controversial remarks in a Bloomberg interview in which he suggested that “some women’s bodies just actually don’t work” for the company’s yoga pants.<\/p>\n
Wilson left the board entirely in 2015 to focus on other ventures, including the apparel brand Kit and Ace, which he co-founded in 2014 with his wife and later sold.<\/p>\n
Despite no longer holding a leadership role at Lululemon, Wilson has continued to criticize the company’s strategy, product quality, and executive leadership.<\/p>\n
In October 2025, he escalated those criticisms by purchasing a full-page advertisement in The Wall Street Journal titled “Lululemon: in a Nosedive,” according to the SEC filing. <\/p>\n
Wilson has also repeatedly criticized the company’s leadership on LinkedIn, including posting comments directed at former CEO Calvin McDonald, whom he described as “lacking vision.” McDonald stepped down earlier this year after serving as CEO since 2018, according to a company announcement.<\/p>\n
Lululemon responds<\/p>\n
Lululemon has publicly defended its leadership and strategic direction in response to Wilson’s campaign.<\/p>\n
“Lululemon has a highly engaged and experienced Board that is well-equipped to provide effective guidance on the company’s direction and the execution of our growth strategy,” said Lululemon in a company statement.<\/p>\n
“Mr. Wilson has not been involved with the company for a decade, and since his departure, Lululemon has continued to adapt to the marketplace and lead the industry,” the company added.<\/p>\n
Lululemon struggles with slowing U.S. growth<\/p>\n
Lululemon’s financial results show the ongoing challenges it faces in its core market. <\/p>\n
During the third quarter of fiscal 2025, net revenue increased 7% year over year to\u00a0$2.6 billion, with comparable sales up 1%, according to the company’s earnings report.<\/p>\n
While an improvement compared to previous quarters, its Americas business remained weak. Net revenue declined 2%, with comparable sales down 5%. The U.S. saw the steepest fall in revenue, dropping 3%.<\/p>\n
Lululemon ended the quarter with 796 stores worldwide.<\/p>\n
Lululemon’s turnaround strategy<\/p>\n
In 2022, Lululemon introduced its new Power of Three x2 plan, which aims to double revenue from $6.25 billion in 2021 to $12.5 billion by 2026 through product innovation, international expansion, and digital growth.\u00a0<\/p>\n
For fiscal 2025, the company expects total revenue between $10.96 and $11.05 billion, representing growth of 4% to 6%. At that pace, the company could still reach its long-term target by the end of 2026.<\/p>\n
In its latest earnings call, Lululemon says it is focused on reviving the U.S. business through three key initiatives.<\/p>\n
Three pillarsProduct innovation: Introducing new designs and expanding product mixMarketing and operational efficiency: Increasing product launches and improving marketing effectivenessEnhanced retail and digital experience: Upgrading both in-store and online shopping experiences<\/p>\n
“We began this work last year as we saw the U.S. business slow, and we expect to see the most significant benefits of our work streams in 2026,” said CFO Meghan Frank in the earnings call. <\/p>\n
“We believe this plan will enable us to deliver improved differentiated products to our guests, allow our teams to read and react more quickly based on style performance, elevate our in-store and online experience, and refine our marketing approach to ensure new and existing guests are aware of the products and innovations coming in 2026,” she added.<\/p>\n
Analysts remain divided on Lululemon’s outlook<\/p>\n
Analysts remain divided on Lululemon’s long-term positioning amid intensifying competition in the athleisure market from rivals including Nike, Alo Yoga, Vuori, and Skims.<\/p>\n
The company’s updated fair value estimate recently increased slightly from $208.08 to $208.35, according to market analysis.<\/p>\n
However, Bank of America lowered its price target to $200 while maintaining a neutral rating, citing concerns that a major operational reset under the new CEO could pressure margins and earnings, according to Simply Wall Street.<\/p>\n
The bank also questioned whether the new spring product is enough to support comparable sales or whether a deeper, potentially more costly reset is needed.<\/p>\n
More Retail Business News:<\/p>\n
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Some retail analysts believe Lululemon is losing its product differentiation as competitors innovate faster.<\/p>\n
“Lululemon doesn’t have that point of difference that it used to have,” said Retail Strategy Group Principal Liza Amlani on Retail Dive. “The last thing you want to be told is that your assortment is boring and that your competitors are ripping you off, right? So I think it\u2019s really important for Lululemon to continue to innovate.”<\/p>\n
With Lululemon’s leggings typically priced between $98 and $198, per its website, analysts say the company must justify its premium position in a crowded athleisure market.<\/p>\n
“There is a very crucial point where you do need to have newness because the consumer needs to justify why they’re going to purchase something out of a discretionary category,” said The Consumer Collective Co-founder and Managing Director Jessica Ram\u00edrez on Retail Dive.\u00a0<\/p>\n
Related: 159-year-old retail giant announces more store closures<\/p>\n
#Lululemon #founder #escalates #fight #company039s #future<\/p>\n","protected":false},"excerpt":{"rendered":"
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