Lu-Lu-Leveraged: Lululemon Founder Pledges Shares For Margin Loan [zero hedge]
Goldman Sachs Group, Inc. (The) (GS)
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Source: zero hedge
Lu-Lu-Leveraged: Lululemon Founder Pledges Shares For Margin Loan Lululemon's founder is taking on some lu-lu-leverage - and it's coming at a time when Lululemon's stock is more than 20% off its recent highs. Chip Wilson, the founder of Lululemon, has reportedly used a significant portion of his stake in the company to secure financing from Goldman Sachs Group Inc., according to a new report from Yahoo/Bloomberg . According to a recent regulatory filing, an investment firm representing the Canadian billionaire pledged 1.8 million Lululemon shares, nearly 20% of his total holdings, as collateral for a $200 million margin loan from the US bank. Wilson's stake, valued at approximately $660 million based on Tuesday's closing price, comes at a challenging time for Lululemon, with its stock declining by 25% since late March due to disappointing US sales and sales projections. While representatives for Lululemon and Wilson declined to comment, this transaction sheds light on how wealthy indi
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