Topic > Lululemon: The Retail Industry: Chip Wilson - 703

Introduction The retail industry is continually growing. There are many successful companies and entrepreneurs in this industry. A successful entrepreneur is Dennis Wilson, also known as Chip Wilson. Personal life Dennis J. Wilson is a Canadian entrepreneur and philanthropist. He was born on March 3, 1956 in Vancouver, British Columbia. He currently resides in Vancouver, British Columbia. He lives with his wife, Shannon Wilson, and 5 children. As a child he was always interested in sports and sewing. His mother had taught him the basics of sewing. His mother and father were both athletes and inspired him with competitive spirit. Wilson swam a lot as a child and spent most of his time in the pool. Wilson earned his bachelor's degree in economics in 1980 from the University of Calgary. Lululemon and other retail companies Wilson has started numerous retail companies, foundations and programs. Its best-known company is Lululemon Athletica, often called Lululemon. Founded in 1998, in 16 years the company has become the leading brand in yoga clothing. The activity was born because in those years female participation in sport was increasing. The first store was in Kitsilano. It's a small town in Vancouver where Wilson was born and raised. Originally, Lululemon sold all women's activewear. After moderate success, the company launched a subsidiary called Fashion Active Lab in 2001. This company specializes in yoga clothing. The success of yoga apparel created a new opportunity for Lululemon. In 2009 they founded a new subsidiary called Ivivva Athletica. The target market of this company was girls aged 6 to 12. On July 27, 2007, Lululemon entered the NASDAQ market for public trading under the symbol LULU. On December 10, 2013 Wilson said......middle of paper......ies”. In other words he meant that some women are too fat and that is why the clothing is very transparent and has chain problems. (Strauss, 2013). While this may be true to some extent, this has angered many women, rights activists and other organisations. Some of his opinions have also brought him into controversy. Wilson says he named his company Lululemon because he found it funny how the Japanese say the letter "L." Wilson also said he supports child labor in third world countries because it costs him less. These opinions and quotes created much controversy for Wilson. Conclusion Canadian entrepreneur Dennis Wilson has started a leading brand in the retail industry. He encountered obstacles along the way, but his skills helped him overcome the obstacles and become the 11th richest man in Canada and make his company the largest yoga apparel company.