Lululemon set to acquire exercise start-up Mirror For £400m
American exercise start-up firm, Mirror, is set to be sold to Lululemon, a yoga clothing brand, in a deal worth more than £400m ($500m).
Mirror is a leading in-home fitness company, founded by former ballerina Brynn Putnam in New York, which creates an interactive workout platform that features live and on-demand classes.
Mirror will bolster Lululemon’s digital ‘sweatlife’ offerings and bring immersive and personalised in-home solutions to new and existing lululemon customers.
Calvin McDonald, Chief Executive Officer of Lululemon, commented: “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 personalized in-home fitness.”
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.
Putnam commented: “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 ecommerce channels, to acquire new users.”