Lululemon still at odds with founder

Lululemon is still at odds with their billionaire founder, Chip Wilson. Wilson recently lost his right to designate a board nominee after he "failed to observe the requirements of the support agreement relating to certain contesting stockholder actions." The news was reported by Business of Fashion.

Wilson has a very long and messy history with his company. In November 2013 after he told Bloomberg some of his brand's pants "don't work for some women's bodies" he stepped down as chairman of the board after apologizing, but also threatened a boardroom fight. He sold half his stake in the company in 2014, and would later resign from the company in 2015.

Last October he told Bloomberg he wanted to return to a public board, and his former company was his first choice. Interestingly enough, despite the sale of his shares, Wilson still owns 9.4 percent of the company, which comprises the majority of his 3.9 billion dollar net worth.

In 2018 he decided to attack the company he founded with a book called "Little Black Stretchy Pants" where he bashed the company's performance since 2013. The joke was on him since Lululemon's shares have risen 77 percent in the last year, and the brand shows no signs of slowing down anytime soon.

Wilson doesn't appear to be ending his battle with the company anytime soon either. He said in a filing he didn't agree with the board's conclusions, so it's doubtful this is the last time this will be heard about.