Lululemon Founder Sells $160M of Amer Sports Stock

Lululemon founder Chip Wilson sold $160M of Amer Sports stock, putting pressure on the company's shares. The sale was disclosed in a regulatory filing and involved approximately 4 million shares. Wilson, the founder of Lululemon, also sold $4 million worth of Amer Sports shares in the same transaction. The sale has contributed to a decline in Amer Sports shares.

Lululemon founder Chip Wilson has sold approximately $160 million worth of Amer Sports (NYSE:AS) stock, according to regulatory filings. The sale, which involved around 4 million shares, was disclosed on August 25, 2023. This transaction follows a series of cash-raising moves by Wilson, who has pledged Lululemon shares to banks for liquidity on multiple occasions.

Wilson originally backed Amer Sports in 2019, participating in the privatization of the Finnish sports equipment manufacturer. Since its listing on the New York Stock Exchange in early 2024, Amer Sports' stock has more than tripled. Wilson's 18% holding in the company now represents roughly half of his $8 billion fortune, per Bloomberg's Billionaires Index [1].

The recent sale has contributed to a decline in Amer Sports shares. Market analysts are closely watching Wilson's next moves, as his Anamered Investments plans to sell up to $163 million worth of Amer Sports shares through a block trade. The purpose of the funds raised from the latest sale has not been disclosed.

The sale comes at a time when Amer Sports' stock is at an all-time high, driven by the growing demand for premium sports equipment from China's middle class. The company specializes in high-end sports gear such as ski boards and tennis rackets.

References:
[1] https://sg.finance.yahoo.com/news/lululemon-billionaire-dumps-160m-amer-171317779.html
[2] https://www.ainvest.com/news/chip-wilson-sells-1-597-billion-amer-sports-shares-2508/