By Conor White
In 2013, Lululemon's founder and CEO, Chip Wilson, vacated his post after he told Bloomberg TV that certain women's bodies weren't suited for the apparel maker's pants and ignited a media firestorm.
And now, five years later, he's ready to revisit both his mistakes and triumphs with the company.
"We built a company based on transformational self-development, brand, and innovative product that I thought was really worth sharing," Wilson said Tuesday in an interview on Cheddar.
"It's such a great story," Wilson said of the apparel company's meteoric rise.
Wilson is sharing an "unauthorized" version of that story in his new book, "Little Black Stretchy Pants."
In 2013, Wilson came under fire for saying that not all women can wear Lululemon's ($LULU) pants after the product was criticized for being too sheer.
While he has since apologized for his comments ー and called the damage he inflicted upon the company "devastating" ー he isn't retracting them.
"Women are buying two to four sizes too small," Wilson told Cheddar. "So it's kind of like you're building a bridge. If you build a bridge and you put too much weight on it, the bridge is going to break."
The 62-year-old entrepreneur said both he and the company he founded have learned from the mistake.
"I think the great innovation that came out of it was Lululemon then developed a pant that wasn't just for athletics but it was actually for what women wanted," he noted. "And they wanted compression for forming their body, much like a bra."
Wilson hopes his new book will serve as a blueprint for those just starting out and help them avoid certain pitfalls.
"I made so many mistakes, and I learned from them," Wilson said. "I think it's really interesting for those people who are developing their own companies ー and they want to go private equity and they want to go public ー why should they have the same failings I did?"
"Little Black Stretchy Pants: The Unauthorized Story of Lululemon" is available in stores and online.
For full interview click here.