Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million (Published 2020)

“This isn’t just about getting guests to buy apparel,” Calvin McDonald, chief executive of Lululemon, said in an interview. “This is about strengthening our community and our loyalty and our relationship with our guests and memberships, and it’s going to be its own revenue stream model, which we’re excited about.”

The acquisition will also expand a “content creation partnership” between Mirror and Lululemon. Classes like meditation that are taught by Lululemon’s “global ambassadors” are already available on the Mirror platform. (A key part of Lululemon’s marketing strategy has long been to team up with people like athletes and yogis to promote its brand.)

The $500 million purchase, which Lululemon announced on Monday, is the company’s first acquisition and follows its $1 million investment in Mirror last year.

Lululemon, the purveyor of expensive athleisure and activewear, is betting on the future of personalized remote exercise as a way to reach customers by acquiring Mirror, a home fitness start-up that sells a $1,495 wall-mounted machine for streaming workout classes.