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The layoffs impacted roughly 100 employees in the Lululemon Studio unit, underscoring the albatross of the brand's connected fitness Mirror.
Lululemon acquired Mirror for $500 million in June 2020 amid the at-home fitness boom, but the deal has proved to be a flop.
Lululemon CEO Calvin McDonald said the employees failed to abide by the company’s zero-tolerance policy for engaging thieves during a robbery.
Lululemon and Xponential Fitness are partnering to bring more digital workouts to Lululemon Studio, the athleisure company's app.
Lululemon reported particularly strong sales growth internationally, including greater China, where the brand is increasing its marketing.
Lululemon has promised to create thousands of jobs in Canada after receiving an important designation from the federal government.
The collaboration will aid Lululemon in its textile recycling ambitions as it works to develop more sustainable nylon 6,6 and polyester.
FORME, a connected fitness company, had a tough first day on Wall Street, with its shares falling 17% after the launch of a $12 million IPO.
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