Billionaire Lululemon founder Chip Wilson's 20% ownership stake in Amer Sports is set to reach an estimated $2 billion valuation following the company's recent filing for an Initial Public Offering (IPO). Amer Sports, the Finnish multinational sporting goods conglomerate, aims for a $10 billion valuation in its public debut. This significant financial move highlights Wilson's continued influence in the performance apparel market, extending beyond his Lululemon legacy.
Amer Sports, established in 1950, boasts a diverse portfolio of premium sports and outdoor brands, including Salomon, Arc'teryx, and Wilson. The company was acquired by a consortium led by China's ANTA Sports in 2019 for approximately
4.6 billion. Amer Sports has strategically focused on expanding its direct-to-consumer (DTC) channels and growing its presence in the Chinese market, leveraging the strong appeal of brands like Arc'teryx.
Despite its strategic growth initiatives, Amer Sports reported a net loss of $253 million in 2022. Reports indicate that a significant portion of the IPO proceeds is intended to repay debt held by Chip Wilson and his Chinese partners, rather than directly funding Amer Sports' operational expansion. This financial structuring has drawn attention as the company transitions to public ownership on the New York Stock Exchange.
The investment underscores a broader trend of performance wear permeating everyday and professional attire, a movement significantly pioneered by Lululemon. As noted by Trung Phan on social media, "Amer Sports owns Salomon and Arc
teryx, legit performance brands hilariously co-opted for workplace." Lululemon's success has demonstrated the demand for comfortable, versatile clothing that blurs the lines between athletic and casual wear, even in office settings.
Lululemon's own studies have consistently shown that comfortable and casual clothing can enhance workplace performance, confidence, and interpersonal connection. This cultural shift, accelerated by remote work trends, has led to a widespread acceptance of athleisure in professional environments. Brands like Salomon and Arc'teryx, traditionally known for outdoor and technical performance, are now increasingly seen in urban and office contexts, reflecting this evolving consumer preference.