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Capitalizing on the stay-at-home workout trend, Lululemon has decided to go all-in on its previous investment last year in 2019 with the Mirror home gym to increase its “digital and interactive capabilities” as they mentioned in a press release. With yoga, boxing, meditation, a $40 personal training session which was introduced last year, live stream, and on-demand...
Why would the startup sell for $500 million when sales were booming in the middle of a pandemic?
Lululemon Athletica Inc. is stretching itself into a new area of business. The seller of yoga pants and other workout apparel announced late Monday that it had agreed to acquire Mirror, a home-fitness product offering live and on-demand classes as well as personal training, for $500 million. Lululemon CEO Calvin McDonald has said that the startup expects...
Lululemon reported its first-quarter earnings results on Thursday. Sales fell by 17% overall despite strong growth online, indicating that even the athleisurewear giant – which was is thought to have benefited from more people shopping for comfortable clothing and workout gear during the lockdown – wasn't immune from the impact of the pandemic.
Lululemon reported a fiscal first-quarter sales decline of 17%, as its strong digital business wasn’t enough to offset the losses from its stores being temporarily shut due to the coronavirus pandemic.
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