Be honest. Do you wear yoga pants at other times besides yoga class? Of course you do! Everyone does and the trend is called athleisure.
Chip Wilson, founder and former CEO of lululemon, is considered to be the original creator of the athleisure trend. So be thankful to him for the ability to wear yoga pants everywhere! CNBC sat down with him at the YPO EDGE Convention to discuss how the company is doing today.
Wilson has had some controversial opinions about the company since stepping down as CEO. He has said that performance since he left has diminished and that “the lululemon stock is exactly where it was six years ago.” But he also said that “lululemon is way more profitable and has a better business model than Under Armour.” He recently tried to get the company to buy them and that he “wouldn’t want to be working at Under Armour right now.”
lululemon’s stock shares are currently around $65 so the athleisure trend isn’t going away anytime soon. Keep buying those yoga pants!
Watch the full interview here!