Lululemon Athletica: Chip Wilson
How I Built This with Guy Raz
The Importance of Investing in Snowboarding
Japan had just exploded. So it was about 30% of all snowboards business. And sure enough, probably in 96 or so the Japanese yen started to collapse. The market was changing drastically and we still weren't making any money because we were just reinvesting just to keep on top of the competition. We quite honestly could not make payroll on Friday and we sold Wednesday based on brand value only. I walked away with a million and after tax 800,000 and then I had paid myself probably 30 to 40,000 dollars for 18 years.
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