Lululemon’s (NASDAQ: LULU) acquisition of Mirror is mutually beneficial for both companies, according to Raymond James.. Acquisition Summary. Lululemon's acquisition of Mirror for $500 million is not a deal of significant scale for the company, but one of huge scope and vision. And their latest acquisition of Mirror is an extension of that.. Lululemon has made a name for itself as a top athleisure brand. The company plans to keep Mirror operating, although instructors might end up wearing Lululemon apparel. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror … June 24, 2020 . Mirror founder Brynn Putnam was a Lululemon ambassador. The acquisition of interactive equipment maker comes after a successful partnership, which started in mid-2019. ET You can now shop the smart mirror everyone has been talking about at lululemon. Lulu x Mirror. Lululemon’s acquisition of MIRROR seems like a perfect fit, pardon the pun. Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday, marking its first acquisition with a bet that more people are going to be pivoting to exercise at their homes.. Lululemon shares were up almost 4% in after-hours trading. lululemon makes major five commitments to support the Black Lives Matter movement and meaningful, lasting change in the … In the end, joining forces with lululemon was more compelling than slugging it out with Peloton or adhering to the “third screen” narrative. The Ratings Game Lululemon acquisition Mirror could generate $700 million and reach 600,000 subscribers by 2023: Bank of America Published: July 2, 2020 at 6:19 a.m. Watch Video. Lululemon acquires fitness streaming startup Mirror for $500million. Ms. Putnam, founder and chief executive officer of MIRROR, and a former lululemon Ambassador said, “We are thrilled to officially become a part of the lululemon family. Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m). Lululemon made an initial investment in Mirror in mid-2019, and this acquisition will further the content creation partnership between the brands. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR and lululemon Ambassadors reach new guests. Mirror, which was founded four years ago, sells $1500 smart mirrors in which users can see both themselves and a digital instructor, allowing them to stream unlimited classes ranging from boxing to yoga to their living rooms. Mirror, which launched in September 2018 and has raised $72 million from investors including Lululemon, is one of several companies changing the … Lululemon’s acquisition of MIRROR seems like a perfect fit, pardon the pun. Paragon of yoga wear Lululemon Athletica has agreed to acquire up-and-coming exercise company Mirror in an all-cash deal. Subscribe to the Crunchbase Daily. The transaction would expand the content partnership between the businesses and allow to increase customer penetration. “The acquisition of Mirror provides Lululemon a foothold in the home fitness market, which has become more important due to the COVID-19 crisis,” he wrote in a distribution note. The mergers and acquisitions happening right now are incredible. Not to be left out, Lululemon just made the genius move of acquiring fitness startup, Mirror. The companies have complementary goals, products and services that make this ideal for both parties. This acquisition will further expand the content creation partnership between the two brands and will help lululemon, MIRROR, and lululemon Ambassadors reach new guests. Lululemon hopes to build an end-to-end fitness ecosystem through the acquisition of work-out video maker Mirror. Ms. Putnam, founder and chief executive officer of MIRROR, and a former lululemon Ambassador said, “We are thrilled to officially become a part of the lululemon family. Lululemon has acquired augmented reality (AR) home fitness giant Mirror for $500 million as it seeks to capitalise on the lockdown driven home-fitness boom. Mirror founder and CEO Brynn Putnam is a former Lululemon brand ambassador. The $500 million all-cash sale is the first acquisition ever made by the 22-year-old retailer. 0. Women; Men; Accessories; Community; Mirror; Sign In; 0; Meet MIRROR. Athleisure company Lululemon has agreed to buy connected fitness startup Mirror for $500 million, the companies announced this week.. Mirror is an interactive workout platform which provides live and on-demand fitness classes – as well as personal training – in a variety of workout genres. 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