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—
Never crossed my mind
Chip Wilson
that he will be
conglomerate
thanks to selling yoga pants.
When he founded Lululemon in 1998, he only thought about creating yoga clothes that were comfortable and perfect for women to wear.
Based on estimates
Forbes
, Sunday (23/11), Wilson’s total wealth reached US$5.9 billion or around Rp. 98.3 trillion (assuming an exchange rate of Rp. 16,670 per US dollar).
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This pile of wealth makes Wilson ranked the 636th richest person in the world according to Forbes’ Realtime Billionaires.
So how did Wilson’s life journey lead to him becoming the king of “yoga clothing” in the world?
Reporting from various sources, Dennis J “Chip” Wilson was born in Los Angeles, California, USA, on April 25 1955.
He grew up in a family of athletes.His father, Dennis Wilson, was an American hockey and football athlete.
His mother, Ruth Noel, was a gymnast who loved sewing.It was from his mother that Wilson began to learn about various types of fabric.
Wilson spent his childhood in Calgary, Alberta, Canada.Since childhood, he has had a keen interest in sports ranging from swimming to snowboarding.
“I was born in California and moved to Calgary, Alberta at the age of 5,” Wilson said on the website
chipwilson.com
.
When he was 12 years old, Wilson’s parents divorced.
After graduating from high school, Wilson studied at the University of Alberta in Edmonton, Canada, in 1973. However, he decided to take a leave of absence because he had the opportunity to work for an oil company in Alaska in 1975.
After that, he continued studying at the University of Calgary and earned a bachelor’s degree in economics in 1979.
Then, Wilson founded the surf and snowboard equipment retail business Westbeach Surf Inc.
“I earned a bachelor’s degree in economics at the University of Calgary in 1979, then worked as an economist while starting my first company Westbeach Surf Company,” he said.
From his first retail business, Wilson learned to do business.Because he couldn’t sell baggy trousers with wild patterns at wholesalers, he had to open his own retail shop.
“Because I had my own factory and store, I tripled the profits and created vertical retail. In 1985, I moved to Toronto to set up shop and opened branches on the east coast,” he said.
His first company was considered successful and managed to survive for more than a quarter of a century before Wilson sold it in 1997. When it was sold, Westbeach was not only a surf equipment retailer, but had expanded into snowboarding and skateboarding.
In developing his business, Wilson took a lot of inspiration from a number of books ranging from ‘Seven Habits of Highly Effective People’ to ‘The Psychology of Achievement’.
“I spent 1997 reading the top 100 business and self-help books and developing a new business theory of ‘giving without expecting anything in return,'” he recalls.
In 1997, this fan of boxer Muhammad Ali founded a yoga pants company under the Lululemon brand.At that time, he saw that sports fans needed clothes that were comfortable and trendy to wear.
Unexpectedly, Lululemon has become a popular yoga apparel brand.In 2007, Wilson took the athleisure company to the stock exchange.However, after the company IPO, Wilson was no longer CEO.
“I’m a terrible salesman, but I know how to make the best product in the world and determine the price so that it can be sold in large quantities. I think an entrepreneur is someone who is too incompetent to work for someone else and is driven to realize unpopular ideas,” he said.
In 2013, Wilson stepped down as chairman of the company.After two years, he completely let go of his involvement in the business.
Nevertheless, Wilson remains the majority individual shareholder with a portion of 7 percent.
In 2018, Wilson bought 20 shares of Amer Sports in partnership with Anta Sport (China’s largest athletics company), Tencent, and Fountainvest.Amer Sports is the holder of the Salomon, Arc’teryx and Wilson brands.
Currently, Wilson spends time with his wife, Shannon Wilson, and their five children.
Together with his family, Wilson now oversees the House of Wilson, which manages the family’s assets, business ventures and philanthropic activities.
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