Chip Wilson
Joe Keenan is the editor-in-chief of Total Retail. Joe has nearly 20 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
Sewing machines hum inside a spacious clothing boutique where the wife and son of lululemon athletica's founder hope to capture the retail magic that turned the yogawear maker into a stock market darling. Meet Kit and Ace, the brainchild of billionaire Chip Wilson's wife, former lululemon lead designer Shannon Wilson, who started the new streetwear venture with his son J.J. Backed entirely by Wilson family money, Kit and Ace has started with one store in the heart of Vancouver's artsy Gastown neighborhood.
Lululemon Athletica Inc. founder Chip Wilson will sell half his stake in the yogawear company to private equity firm Advent International for about $845 million. Wilson and Advent agreed to name David Mussafer and Steve Collins to the board of directors, effective as of the closing of the transaction, expanding the board to 12 members from 10, Lululemon said
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