lululemon acquires MIRROR, taps into new digital sales channel


June 30, 2020 Facebook Twitter LinkedIn Google+ Deal Flow


MIRROR

MIRRORVancouver-based lululemon [TCO] made its first acquisition, and it was a brilliant move acquiring MIRROR, an in-home fitness company that created an interactive workout platform that features live and on-demand classes the deal is said to be worth $500 million.

“The acquisition of Mirror is an exciting opportunity to build upon that vision, enhance our digital and interactive capabilities, and deepen our roots in the sweat life,” Lululemon CEO Calvin McDonald said in a statement.

Due to COVID-19 consumers have been forced to stay at home – but many still need and want to work out, and now lululemon brings the service right to a screen in their house.

The deal builds on a partnership between the two brands that began in mid-2019 when Lululemon made an initial investment in Mirror.


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