Working together with KKR, the big American investment group, Glenn Murphy, chairman of Lululemon, has created a special-purpose acquisition company (SPAC) that has started trading on the New York Stock Exchange under the symbol KAHC, following an oversubscribed public offering worth $1.2 billion. The purpose of the new SPAC, whose full name is KKR Acquisition Holdings I Corp., is to identify, acquire and manage a business in the consumer or retail industry. Murphy, who was the chairman and CEO of Gap for seven years before joining Lululemon’s board as co-chairman in 2017, will serve as the company’s CEO. As a board member, Murphy already made a significant investment in Lululemon, which has appreciated by more than 500 percent. He also owns and runs his own « consumer-focused » investment company in Toronto, FIS Holdings, which has bought shares in Serta Simmons, a leading bedding company, and others.