Lululemon founder Chip Wilson reportedly divorcing wife, adding more uncertainty

Chip Wilson, the billionaire founder of Lululemon Athletica, is reportedly ending his marriage to Shannon “Summer” Wilson, his wife and longtime business partner, after more than two decades together—casting fresh uncertainty over the wealth of one of Canada’s most prominent entrepreneurial families.

The couple wed in 2002. Summer Wilson, 52, joined Lululemon in its early days as one of the first employees and acted as the company’s founding lead designer. The pair has talked about their separation with close acquaintances, Bloomberg reported, citing people familiar with the situation. No prenuptial agreement exists, the report noted.

The split arrives during a turbulent period for Lululemon both operationally and on Wall Street. Shares tumbled more than 17% on Friday after the athleticwear retailer slashed its full-year sales forecast, pushing the stock toward its weakest price in roughly eight years.

The steep decline occurred only days before Heidi O’Neill, a former Nike executive, is scheduled to assume the role of Lululemon CEO on Sept. 8. The company is navigating intensified competition and an evolving activewear landscape as it tries to revive growth.

Wilson, 71, has an estimated net worth of $6.1 billion, according to the Bloomberg Billionaires Index. He launched Lululemon in 1998 and went on to transform the Vancouver-based brand into a worldwide athletic-apparel powerhouse.

Wilson recently ended a public proxy battle with Lululemon after reaching a truce that put his board nominees in place. Under that agreement, he also agreed not to publicly disparage Lululemon for about 18 months.

Outside Lululemon, Wilson holds approximately an 18% stake in Amer Sports, the Finnish parent company of brands such as Arc’teryx—a stake valued at nearly $3 billion. His fortune also includes a broad real-estate portfolio, among it one of British Columbia’s most expensive residences.