lululemon to buy in-home fitness brand MIRROR


June 30, 2020 | By RetailME Bureau

Athleisure brand lululemon athletica has entered into a definitive agreement to acquire MIRROR, an in-home fitness concept, for $500 million. MIRROR has created an interactive workout platform that features live and on-demand classes.

With its best-in-class content and versatile platform, MIRROR positions lululemon to accelerate its vision and build upon an ecosystem that will fuel the company’s ‘Power of Three’ growth plan, which includes driving the business through omni guest experiences. MIRROR will bolster the lululemon’s digital offerings with immersive and personalised in-home fitness and mindfulness solutions.

“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. We look forward to learning from and working with Brynn Putnam and the team at MIRROR to accelerate the growth of personalised in-home fitness,” said Calvin McDonald, CEO, lululemon.

MIRROR offers weekly live classes and thousands of on-demand workouts as well as immersive one-on-one personal training. MIRROR has seen rapid growth and strong engagement since it launched in 2018 as demand for in-home fitness offerings continue to increase significantly.

This transaction builds on a successful partnership between the two companies, which began in mid-2019 with an initial investment in MIRROR by lululemon, and also includes a content partnership which brought sweat and meditation classes to the MIRROR platform by lululemon’s global ambassadors. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR and lululemon Ambassadors reach new guests.

“We are thrilled to officially become a part of the lululemon family. 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,” added Brynn Putnam, founder & CEO, MIRROR, and a former lululemon ambassador.

Following the completion of the acquisition, MIRROR will operate as a standalone company within lululemon and Putnam will continue as MIRROR’s CEO.

 

For all the latest retail news from the Middle East, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



It is the final week of the 27th edition of the Dubai 

Continue Reading

January 21, 2022 | By RetailME Bureau

Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India 

Continue Reading

December 29, 2021 | By Zubina Ahmed

‘Tis the time to be jolly! The festive season is back. Celebrate 

Continue Reading

December 19, 2021 | By RetailME Bureau

“It sounds like this, Luh Pan Koh-ti-dyan and means ‘the daily bread’, 

Continue Reading

December 6, 2021 | By Zubina Ahmed

The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley




Download Images RetailME Magazine