Lululemon founder's divorce could trigger a $1 billion equity change.

Lululemon Athletica founder and billionaire Chip Wilson and his wife Summer Wilson, with whom he had worked for over 20 years, have announced their divorce. As there was no prenuptial agreement, the distribution of their vast assets remains unclear, and the market is closely watching the potential equity changes this event may trigger.

According to Bloomberg, citing sources familiar with the matter, the couple has informed friends of their separation. Legal proceedings were initiated in the British Columbia Supreme Court in April, but the details of the case are not open to the public or media.

Lululemon is under multiple pressures as its divorce proceedings unfold. The company's stock plunged more than 17% on Friday after it lowered its full-year sales outlook, and is currently hovering near an eight-year low. Former Nike executive Heidi O'Neill is scheduled to take over as CEO on September 8.

Both Chip Wilson and Summer Wilson left Lululemon's management team more than a decade ago, but as the founder and a major shareholder, he has always been actively involved in the company's governance.

Previously, Chip Wilson publicly launched a proxy fight, demanding governance reforms. Recently, the two sides reached a settlement agreement in exchange for his nomination of a seat on the company's board of directors. One of the terms of the agreement was that he agreed to refrain from publicly criticizing the company for approximately 18 months.

The ownership of shares remains uncertain, and the lack of a prenuptial agreement adds further uncertainty.

Chip Wilson, 71, has a personal fortune estimated at approximately $6.1 billion according to the Bloomberg Billionaires Index.

Regarding Lululemon's equity stake, according to recent securities filings, he holds approximately 8.6% of the company's shares through multiple entities, with a market value of nearly $1 billion; Summer Wilson also holds approximately 1% of the shares, with a market value of approximately $100 million.

An insider revealed that there was no prenuptial agreement between the couple, and the final impact on family assets remains to be determined. This means that the ownership of the aforementioned shares and other assets is subject to legal procedures, and potential changes in the shareholding structure may have some impact on the market.

With a vast asset portfolio, Amer Sports holds nearly $3 billion in shares.

Besides Lululemon, Chip Wilson's asset portfolio is quite substantial. He holds approximately 18% of the shares in the Finnish sporting goods group Amer Sports, with a market value approaching $3 billion. Amer Sports owns several apparel brands, including Vancouver-based Arc'teryx.

In addition, he owns a significant amount of real estate, including one of the most valuable residences in British Columbia. He is currently investing part of his wealth in research into a treatment for muscular dystrophy that is affecting him, and he is occasionally involved in local political affairs.

Long-term philanthropic partner, co-founder of family office

Chip and Summer Wilson have donated CAD 134 million (approximately USD 97 million) to the British Columbia Parks Foundation in recent years through their family office, "House of Wilson," which the charity calls the largest private donation in the history of Canadian nature conservation.

Both are listed as co-founders of the family office. In 2024, the City of Vancouver designated October 3rd as "Summer and Chip Wilson Day" in recognition of their partnership.

Summer Wilson, 52, was the founding chief designer of Lululemon and played a key role in the company's founding phase.

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