Lululemon’s recall of its sought-after yoga pants — because they’re sheer enough to become see-through — isn’t the first weird event in the company’s history.
Lululemon’s story is just one weird chapter after another.
Did you know the company took its name because the founder believed Japanese people wouldn’t be able to pronounce it?
Or that the company once claimed falsely that its pants were made with seaweed?
The pants recall is, in fact, serious business for Lululemon. Luon pants represent 17 percent of the chain’s entire stock; they’re $98 a pair and revenue growth at the company was already slowing before the recall was announced.
The screw up came a little more than a year after founder Chip Wilson stepped aside to be replaced as CEO Christine Day.
The founder is an Ayn Rand fan and the company takes its values from Atlas Shrugged.
Late in 2011, the company began printing the phrase “Who is John Galt?” on its shopping bags. Galt, of course, is the star of Rand’s “objectivist” novel, “Atlas Shrugged,” which argues that the naked pursuit of self-interest should be society’s highest ambition. Founder Chip Wilson read the book when he was 18.
Wilson believes the birth control pill and smoking are responsible for high divorce rates — and the existence of Lululemon itself.