Lululemon Athletica Inc. is exploring a sale of Mirror, the fitness-equipment maker it acquired for US$500 million in 2020, according to pepole with knowledge of the matter.
Lululemon Athletica Inc. is exploring a sale of Mirror, the fitness-equipment maker it acquired for US$500 million in 2020, according to pepole with knowledge of the matter.
Lululemon’s shares were down 0.1 per cent to US$368.07 at 12:49 p.m. in New York on Monday, giving the company a market value of about US$47 billion. The company, which at one point was selling Mirror products in-store, has pivoted to a digital and app-based product that it has rebranded as Lululemon Studio. But it isn’t eliminating the hardware — it’s just no longer a requirement. Luluemon, led by Chief Execitive Officer Calvin McDonald, has said its new app will launch this summer with a lower subscription rate.
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