It’s already been quite the year for the old lemon lulus. The see-through pantscapade really threw them for a loop. We hear the affected styles are making it back to shelves, and the lulus will survive, and still make a bazillion dollars, yadda yadda, but it appears Lululemon has taken a kick in the pants when it comes to profits, stocks and company morale.
And now CEO Christina Day is getting the hell out of there. It was announced earlier this week that Day (notoriously formerly of Starbucks) will step down after five and a half years. That just flew by, didn’t it?
Because of this, the company’s stock dropped about 18 percent from a high of $82.50. In trading terms, that kinda sucks.
Also cutting his losses is old Chip Wilson, lulu’s founder who resigned from his position last year amidst the Ayn Rand publicity nightmare and other series of scandals. Wilson, who remains lulu chairman, sold $50 million worth of stock just days before Day’s announcement and subsequent price drop, The Wall Street Journal reported. As in, he just banked an extra fifty million dollars.
Crap. With everyone jumping ship, who is going continue the crusade of “conquering the epidemic of mediocrity” ?
(UPDATE: We’re still not sure who will take over, but opening standalone men’s stores by 2016 with $98 golf polos and $48 underwear will surely keep them pretty busy and most likely afloat.)
Don’t worry though, Chip has been staying quite busy and boy are we in for a treat, It’s All Yoga, Baby has reported. It’s called 40,000 Days and Then You’re Dead: The Story of Lululemon and it’s a tell-all book! Not only will it share all the deepest and darkest secrets about Chip’s journey in creating Lululemon, it will also tell you how many days you have left to live! (The website asks your birthday and then tells you how many days you have left to live. Don’t fret, by their calculations we’ll live til 108ish.)
The book is being launched on Wilson’s other pet project called whil, which we assume is a play on Wilson and your will to chase the dangling carrot into this rabbit hole. 40,000 Days will be released one chapter at a time each week. They’re already up to chapter three, so you’re late, and you’d better get with the program or you’ll be ostracized and forced to wear see-through pants while attending goal setting camp for the third time because you didn’t quite get it the first two times, did you?
whil, on the other hand, is actually some “content portal” featuring a meditation method - “the new face of meditation” if you, uh, will – devised by Chip, who has undoubtedly had some questionable philosophies in the past. The concept is to help people avoid burnout with simple ways to meditate, which sounds nice.
We appreciate the efforts, but holy John Galt, we’d be lying if we said we weren’t totally creeped out by Chip Wilson’s desire to get even deeper into our psyche. Surprisingly, there is no mention of Wilson’s long-held, lulu-adopting love for goal setting a la Landmark Forum, quite yet, though there is heavy hinting.
Here, you can watch the promo clip and decide for yourself:
Brrrr. Did you feel that? We just got the chills.
Oh, and then there’s this weird sycophant-y video featuring Chip groupies.
“Brilliant. Genius. Cult following. Visionary.”
Here come the willies again.
What do you think?