lululemon Founder's New Company Fires 10% of Headquarter Staff

Kit and Ace, the retail startup launched by lululemon athletica Inc founder Chip Wilson’s family, has laid off roughly 10 percent of staff at its Vancouver headquarters, as the closely held company slows its rapid pace of expansion. The layoffs, which impact about 35 people, come as the luxury casual wear-maker shifts focus from opening dozens of new stores to brand building and expanding its product lines.