The Globe and Mail reports in its Tuesday edition that Lululemon's attempt to settle its proxy fight with founder Chip Wilson failed last week. A Reuters dispatch to The Globe reports that Lululemon postponed its proxy statement, hoping to reach an agreement with Mr. Wilson, who has criticized management for losing the company's "cool" factor. Mr. Wilson, who owns 8.6 per cent of Lululemon, responded hours later saying the fight could be settled quickly, and that he is undeterred and willing to be constructive. Shares are down 62 per cent in the past 12 months as design missteps and fading brand appeal eroded its edge. Lululemon recently hired a new chief executive officer to turn the brand around. Lululemon rebutted Mr. Wilson's views, claiming he has "outdated perspectives" and "troubling conflicts of interest" after leaving the board in 2015. "His actions have been damaging to the brand and harming the very stakeholders he claims to represent: shareholders, guests, and employees. Electing any of Mr. Wilson's nominees would endorse his misguided perspectives," Lululemon said in a letter to shareholders. The company and Mr. Wilson have been trying to agree on ending his effort to seat three directors on the board.