Here is your Forbes Daily Briefing for Wednesday, February 5th.

Today on Forbes, Lulu Lemon's canceled founder scores billions with Finnish Athleisure Venture.

Back in 1998, Chip Wilson predicted that yoga would be one of the next big trends in retail.

He launched Lulu Lemon that year in his home city of Vancouver, Canada.

That decision catalyzed the so-called

Athleisure movement, making it cool and stylish to wear athletic clothing every day.

In late 2023, the now 68-year-old Wilson,

whose estimated net worth is over $7.5 billion, had another

prediction. He told Forbes, quote, I feel like I'm right in the middle of the biggest change in the way

people have dressed in the history of the world. Wilson was not talking about Lulu Lemon,

the company he founded but where he left his role as

chair of the board in 2013 amid controversy following his comments about women's bodies.

He was referring to the success of his newer investment.

Helsinki-Finland-based sportswear outfit Amher Sports, the parent company of outdoors brands

like Arcterics outer Outerware, Wilson, tennis

rackets, Solomon running shoes in ski gear, and atomic ski gear. In 2019, right around the time

Lulu Lemon revoked his right to nominate a director to its board, the entrepreneur spent around

$1.1 billion of cash from selling Lulu

lemon shares to buy a nearly 21% stake in Amher Sports. He was part of an investor group

led by Anta, the owner of Fila, and the largest athletic company in China, that spent a combined

$5.2 billion to take over the Finnish conglomerate.

His stake in the company is now worth about $3.2 billion,

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