Chip Wilson: The Seamless, Inside Story of Lululemon
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In a podcast interview with Guy Kawasaki, Chip Wilson, the founder of Lululemon Athletica, discusses various aspects of the company's history and his relationship with it. Wilson reveals that he owns 9 percent of the company but has lost control of the board and the CEO. He had a different vision for the company's future, thinking ten years ahead, while the board and CEO focused on quarterly reports. Despite leaving the company, Wilson acknowledges the value of his ownership stake. He also discusses the origins of the name Lululemon, the company's success in the women's market, and controversies surrounding him.
Wilson talks about the media landscape and how his comments about women's bodies were taken out of context. He also discusses the concept of vertical retailing and the importance of listening to customers directly on the sales floor. Wilson shares his experience with focus groups and the effectiveness of word-of-mouth promotion through community ambassadors.
The conversation then shifts to the importance of founder control over the board of directors and the need for an onboarding program that aligns new board members with the company's culture and values. Wilson suggests incorporating principles from self-development books and courses to ensure alignment. He also emphasizes the importance of onboarding employees and board members by having them work on the retail floor to gain a deep understanding of the business.
Wilson and Kawasaki discuss the concept of the pre-mortem and the value of considering potential risks and failures before launching a new product or initiative. They also touch on Wilson's philanthropic endeavors, particularly in land conservation.
In the final segment, Wilson discusses the qualities he looks for in employees, including athleticism, competitiveness, and openness to learning. He controversially adds that he specifically wanted women who wanted to have children at Lululemon, believing that those who didn't had underlying issues that would affect their ability to work well with others.
Overall, the interview provides insights into Wilson's experiences with Lululemon, his perspectives on various topics, and his approach to business and philanthropy.
In a podcast interview with Guy Kawasaki, Chip Wilson, the founder of Lululemon Athletica, discusses