Lululemon recently acquired MIRROR, the home fitness platform, in a $500 million USD deal. The fitness platform will now operate under Lululemon, and Brynn Putnam will continue to act as the Mirror CEO. Calvin McDonald, the Lululemon CEO, made a statement about the acquisition, “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.” McDonald also stated that acquiring MIRROR will help the company build on the vision of promoting a lifestyle brand.
Acquiring a home fitness platform can also help the company provide workouts to consumers, at a time when many gyms are not able to operate due to ongoing social distancing measures.
Image Credit: MIRROR