Athletic put on retailer Lululemon is acquiring startup Mirror for $500 million in a shift to capitalize on the boom in house exercise methods.
Mirror sells an interactive monitor — which charges practically $one,500 just before tax and installation service fees, additionally ongoing subscription service fees of $39 for every month — as a result of which consumers can entry its on-demand or live fitness classes.
Lululemon introduced meditation classes to the Mirror platform immediately after investing in the startup very last 12 months. It explained the acquisition of Mirror would improve its “digital sweatlife offerings and convey immersive and personalized in-house sweat and mindfulness methods to new and present Lululemon attendees.”
“In 2019, we in-depth our vision to be the experiential manufacturer that ignites a local community of persons dwelling the sweatlife as a result of sweat, grow and link,” Lululemon CEO Calvin McDonald explained in a information release.