Lululemon founder Chip Wilson files for divorce from wife Shannon ‘Summer’ Wilson after 20 years, couple had no prenup; he owns 8.6% stake worth nearly $1B, while she holds 1% valued at $100M

Chip Wilson, the founder of popular athleticwear brand Lululemon, has filed for divorce from his wife and business partner, Shannon ‘Summer’ Wilson, after 20 years of marriage. The couple reportedly did not sign a prenuptial agreement, leaving the future division of their considerable assets unclear.Wilson, 71, filed a family legal proceeding in the Supreme Court of British Columbia in April, according to Bloomberg. The American-born entrepreneur, who was raised in Canada and continues to live there, has not publicly detailed the circumstances surrounding the couple’s separation.Those familiar with the matter told the publication that the Wilsons had discussed their separation with friends. The couple have yet to publicly comment on the divorce.Chip Wilson and Shannon Wilson’s connection to LululemonWilson stepped away from Lululemon more than a decade ago. His wife, Shannon ‘Summer’ Wilson, was among the company’s earliest employees and served as its founding lead designer.The couple’s relationship with the brand changed significantly after Wilson became embroiled in controversy over comments he made about Lululemon’s customers and its clothing.In 2013, Wilson made controversial remarks about the bodies and weight of some women who wore the company’s pants. At the time, Lululemon had recalled nearly 17 per cent of its popular black Luon pants after customers complained that the material was see-through.“Quite frankly, some women's bodies just actually don't work for [the pants],” Wilson told Bloomberg in 2013.He went on to discuss the friction caused by women’s thighs and the pressure placed on the fabric over time.The comments sparked widespread backlash. Lululemon subsequently offered customers full refunds or exchanges, while the company’s stock reportedly fell 17 per cent after the controversy.Wilson later apologised for his remarks and departed the company’s board in 2015.Wilson continued to criticise Lululemon after leavingDespite no longer being involved with the company, Wilson continued to speak publicly about Lululemon and its business strategy.In a 2024 interview with Forbes, he criticised the company’s advertising and claimed that promoting what he described as “unhealthy” and “sickly” people was attracting the wrong clientele.Wilson also accused the company of “trying to become like Gap” by appealing to a mass audience rather than maintaining a more exclusive brand identity.“I think the definition of a brand is that you're not everything to everybody,” he said. “You've got to be clear that you don't want certain customers coming in.”He had also publicly criticised what he called the “whole diversity and inclusion thing”, describing it as detrimental to the brand following his departure.Lululemon subsequently distanced itself from Wilson’s comments.“Chip has not been involved with the company since his resignation from the board in 2015 and we are a very different company today,” the company said in a statement to TODAY.The company added that Lululemon was committed to creating an “inclusive, diverse, and welcoming environment” and said it had made considerable progress through its Inclusion, Diversity, Equity and Action initiative.Chip and Shannon Wilson’s Lululemon stakesThe divorce could also have significant financial implications given the couple’s holdings in the company they helped build.According to Bloomberg, Wilson currently owns around 8.6 per cent of Lululemon’s shares, a stake valued at just under $1 billion. His wife reportedly owns approximately a one per cent stake, worth around $100 million.The Wilsons’ reported lack of a prenuptial agreement could therefore make the division of their assets a significant issue as their divorce proceedings move forward.Lululemon faces a difficult periodThe divorce comes as Lululemon’s stock is facing pressure. The company’s shares recently fell 17 per cent in a single week and are reportedly trading near their lowest level in eight years.Meanwhile, former Nike executive Heidi O’Neill is set to take over as Lululemon’s chief executive on Tuesday, according to Bloomberg.Catch the latest World News and Live updates. Download the TOI app.