Lululemon Is Having an Identity Crisis. Its Founder Blames the CEO.

Under Chip Wilson, Lululemon LULU 1.23%increase; green up pointing triangle Athletica rose to fame on leggings so functional and flattering that women wore them not just to the gym but to brunch, the supermarket and practically everywhere else.

Now, trendsetters are wearing Alo Yoga matching workout sets or Vuori joggers. And Wilson, the estranged founder of the 27-year-old brand, isn’t happy about it.