Lululemon’s CEO Faced Mounting Pressure. Then Came the Attack Ad

The pressure was building on Calvin McDonald well before Lululemon founder Chip Wilson assailed him in a full-page newspaper ad in October.

Earlier this year, Randal Konik saw the brand’s bestselling black leggings piling up at outlets. For the Jefferies analyst, it was a sign that the rarely discounted product was being cast aside. Even Lululemon’s core customer was showing “fatigue,” McDonald himself told analysts months later.

Calvin McDonald

Source: The Canadian Press

As business continued to flag, the company’s board gathered with McDonald in New York City in early December, according to people familiar with the matter. Less than two weeks later, he is ...