Chip Wilson Sells $1.597 Billion in Amer Sports Shares

Chip Wilson, the founder of Lululemon Athletica, has recently sold shares of Amer Sports, a Finnish sports equipment manufacturer, for approximately $1.597 billion. This move is part of his ongoing efforts to liquidate his holdings. According to regulatory filings, Wilson sold around 4 million shares of Amer Sports on August 25, which constitutes about 0.7% of the company's total shares. The purpose of the funds raised from this sale has not been disclosed.

Prior to this sale, Wilson had pledged Lululemon shares to secure cash on three separate occasions over the past year, amassing over $5 billion in available funds from multiple banks. Notably, he has only pledged Lululemon shares and not Amer Sports shares for these transactions.

Wilson, as part of the acquisition consortium led by Anta Sports, participated in the privatization of Amer Sports in 2019 and has since driven its transformation into a high-end brand. The company now specializes in high-end sports equipment such as ski boards and tennis rackets.

Since its listing on the New York Stock Exchange last year, Amer Sports' stock has performed exceptionally well, with cumulative gains exceeding 200%. Wilson currently holds approximately 18% of Amer Sports' shares, which accounts for about half of his $80 billion net worth.

According to previous reports, Wilson's Anamered Investments plans to sell up to $1.63 billion worth of Amer Sports shares through a block trade. This transaction aligns closely with the previously disclosed upper limit.

This sale comes at a time when Amer Sports' stock is at an all-time high. However, market attention remains focused on the company's continued investment in expanding its business and its global expansion strategy. As the second-largest sports consumption market globally, the growing demand for high-end sports equipment from the middle class is a key driver of Amer Sports' valuation.