lululemon acquisition mirror

Athleisure company Lululemon has agreed to buy connected fitness startup Mirror for $500 million, the companies announced this week.. lululemon Announces Global Gender Pay Equity Stats and Commitments . Not to be left out, Lululemon just made the genius move of acquiring fitness startup, Mirror. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR and lululemon Ambassadors reach new guests. Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m).. Mirror is an interactive workout platform which provides live and on-demand fitness classes – as well as personal training – in a variety of workout genres. In the end, joining forces with lululemon was more compelling than slugging it out with Peloton or adhering to the “third screen” narrative. The $500 million all-cash sale is the first acquisition ever made by the 22-year-old retailer. From Lululemon’s perspective, the acquisition provides an additional revenue stream, so the company isn’t entirely dependent on retail sales. The company plans to keep Mirror operating, although instructors might end up wearing Lululemon apparel. Lululemon hopes to build an end-to-end fitness ecosystem through the acquisition of work-out video maker Mirror. The two companies began a relationship in mid-2019 when Lululemon presented Mirror with an initial investment, which included a content partnership and classes offered by Lululemon’s Global Ambassador Program. The companies have complementary goals, products and services that make this ideal for both parties. From Lululemon’s perspective, the acquisition provides an additional revenue stream, so the company isn’t entirely dependent on retail sales. As part of lululemon, MIRROR can further … For Lululemon, hosting Mirror systems in stores is just one new facet in a strategy to draw customers into stores. Lululemon has acquired augmented reality (AR) home fitness giant Mirror for $500 million as it seeks to capitalise on the lockdown driven home-fitness boom. Ms. Putnam, founder and chief executive officer of MIRROR, and a former lululemon Ambassador said, “We are thrilled to officially become a part of the lululemon family. “The acquisition of Mirror provides Lululemon a foothold in the home fitness market, which has become more important due to the COVID-19 crisis,” he wrote in a distribution note. Lululemon is acquiring fitness hardware startup Mirror for $500 million. As a brand that is about much more than the products it sells, Lululemon sells itself as a lifestyle. The acquisition is said to enhance Lululemon’s digital offerings to new and existing customers. ET The deal is also anticipated to amplify Lululemon’s brand ambassadors and establish product integration opportunities. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR and lululemon Ambassadors reach new guests. Lululemon's (NASDAQ: LULU) acquisition of Mirror is mutually beneficial for both companies, according to Raymond James. Lululemon made an initial investment in Mirror in mid-2019, and this acquisition will further the content creation partnership between the brands. Lulu x Mirror. Subscribe to the Crunchbase Daily. The Mirror deal fits in with Lululemon’s expansion into experiences, and continues the company’s long-time marketing playbook that promotes the brand by giving product to “global ambassadors” — usually local athletes and yoga instructors. The mergers and acquisitions happening right now are incredible. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR, and lululemon Ambassadors reach new guests. That particular athleisure company, actually: Lululemon, which first made a small $1 million equity investment in Mirror in 2019. lululemon makes major five commitments to support the Black Lives Matter movement and meaningful, lasting change in the … Women; Men; Accessories; Community; Mirror; Sign In; 0; Meet MIRROR. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror … The Ratings Game Lululemon acquisition Mirror could generate $700 million and reach 600,000 subscribers by 2023: Bank of America Published: July 2, 2020 at 6:19 a.m. Even before the Mirror deal, Lululemon had been using its ambassadors to … Mirror founder and CEO Brynn Putnam is a former Lululemon brand ambassador. Mirror founder Brynn Putnam was a Lululemon ambassador. Lululemon's acquisition of Mirror for $500 million is not a deal of significant scale for the company, but one of huge scope and vision. And their latest acquisition of Mirror is an extension of that.. Lululemon has made a name for itself as a top athleisure brand. Putnam will remain as CEO, reporting to Lululemon CEO Calvin McDonald, who Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday, marking its first acquisition with a bet that more people are going to be pivoting to exercise at their homes.. Lululemon shares were up almost 4% in after-hours trading. Mirror, which was founded four years ago, sells $1500 smart mirrors in which users can see both themselves and a digital instructor, allowing them to stream unlimited classes ranging from boxing to yoga to their living rooms. Ms. Putnam, founder and chief executive officer of MIRROR, and a former lululemon Ambassador said, “We are thrilled to officially become a part of the lululemon family. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR and lululemon Ambassadors reach new guests. Shop The Mirror. Lululemon has a pretty straightforward way to potentially lower customer acquisition costs for Mirror — by displaying the product in its stores. 0. Earlier, lululemon invested in MIRROR and started a content partnership, bringing additional artists to the platform from its Global Ambassadors. Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m). Lululemon acquires fitness streaming startup Mirror for $500million. The nearly invisible home gym that transforms less than two feet of wall space into a cardio class, a yoga studio, a boxing ring, and so much more. The deal marks the first major acquisition for athletic apparel brand Lululemon. You can now shop the smart mirror everyone has been talking about at lululemon. Lululemon’s acquisition of Mirror — founded two years ago by former Lululemon ambassador Brynn Putnam — adds to the company’s five-year … Watch Video. The acquisition of interactive equipment maker comes after a successful partnership, which started in mid-2019. If Mirror considered raising on the back of its COVID boost, they’d have to become a customer acquisition and retention machine, where every move is audited in relation to Peloton’s now public (and soaring) metrics. Acquisition Summary. Lululemon’s acquisition of MIRROR seems like a perfect fit, pardon the pun. Lululemon Athletica Inc. is buying at-home fitness company Mirror for $500 million, a deal that aims to capitalize on pandemic-fueled upheaval in the fitness and retail industries.. Lululemon’s acquisition of MIRROR seems like a perfect fit, pardon the pun. Ms. Putnam, founder and chief executive officer of MIRROR, and a former lululemon Ambassador said, “We are thrilled to officially become a part of the lululemon family. June 24, 2020 . And once things do return to normal, for Mirror, Lululemon's 500 or so stores offer high-traffic brick-and-mortar demo spaces without the heavy customer acquisition cost of establishing its own branded shops. Lululemon (NASDAQ:LULU) has been lagging since the company reported earnings in early June. The transaction would expand the content partnership between the businesses and allow to increase customer penetration. Mirror, which launched in September 2018 and has raised $72 million from investors including Lululemon, is one of several companies changing the … Skip Navigation. After the acquisition, Mirror will continue to operate as a stand-alone firm within Lululemon with Putnam continuing to serve as ceo and reporting directly to McDonald. The companies have complementary goals, products and services that make this ideal for both parties. Mirror is an interactive workout platform which provides live and on-demand fitness classes – as well as personal training – in a variety of workout genres. Lululemon Athletica Inc (NASDAQ: LULU) shares gained 5.5% on Tuesday after the company announced a $500 million buyout of in-home fitness company Mirror.. Mirror is Lululemon… Lululemon today announced plans to acquire home exercise startup Mirror for $500 million. Paragon of yoga wear Lululemon Athletica has agreed to acquire up-and-coming exercise company Mirror in an all-cash deal. Lululemon’s (NASDAQ: LULU) acquisition of Mirror is mutually beneficial for both companies, according to Raymond James.. 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