Chip Wilson Sells $160 Million in Amer Sports Shares

Chip Wilson, the founder of Lululemon Athletica Inc., recently sold approximately $159.7 million worth of stock in Amer Sports Inc., marking a significant move to monetize his equity holdings. On August 25, 2023, Wilson sold just over 4 million shares, which represents around 0.7 percent of Amer’s total shares, according to a regulatory filing. The specific plans for the proceeds from this sale have not been disclosed.

This transaction follows a trend of recent financial maneuvers by Wilson. Just weeks prior, he pledged shares in Lululemon for cash, a strategy he has employed multiple times in the past year. Through these actions, he has secured access to more than $500 million from various banks. Notably, there is no indication that he has pledged any of his shares in Amer Sports.

Wilson’s Investment Strategy

Wilson’s involvement with Amer Sports dates back to 2019 when he was part of a consortium led by Anta Sports Products Ltd., China’s largest athletic apparel producer. The consortium aimed to position Amer’s high-end athletic equipment within China’s rapidly expanding middle class market. The company, headquartered in Helsinki, made its market debut on the New York Stock Exchange last year, and its share price has seen impressive growth, more than tripling since the IPO.

As of now, Wilson holds an 18 percent stake in Amer, which constitutes roughly half of his estimated $8 billion fortune, according to the Bloomberg Billionaires Index. This substantial stake underscores his significant influence in the sports equipment sector.

The recent sell-off has sparked interest among investors and analysts alike, particularly regarding the future direction of Amer Sports. Bloomberg reported that an investment entity controlled by Wilson, Anamered Investments, is exploring the possibility of selling up to $163 million worth of Amer shares in an unregistered block sale.

As Wilson continues to navigate his financial portfolio, his strategic decisions will likely play a crucial role in shaping not only his wealth but also the trajectory of the companies in which he is actively involved. Investors and market observers are keenly watching how these developments unfold in the coming months.