Lululemon are set to make a major move into the fast-growing area of personalised at-home fitness. The fitness apparel retailer has reached an agreement to acquire the at-home fitness start-up ‘Mirror’ for $500 million.
Launched in 2018, Mirror is an interactive workout platform that offers weekly live classes and thousands of on-demand workouts as well as one-on-one personal training.
“In 2019, we detailed our vision to be the experiential brand that ignites a community of people living the sweatlife through sweat, grow and connect, 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 sweatlife.” – Calvin McDonald – CEO.
“As part of lululemon, Mirror can further strengthen its position and accelerate its growth by leveraging lululemon’s deep relationships with its guests, ambassadors, and communities, as well as the company’s infrastructure, including its store network and e-commerce channels, to acquire new users,” – Brynn Putnam, Mirror’s founder and CEO.