Mirror launched in 2018 and had a previous partnership with Lululemon. I was looking for a pair of shorts & mentioned it to one of the sales associates (who offered to call another store for me, which I couldn't make a decision on at the time). Mirror from lululemon $1,495.00 from Mirror In addition to the cost of the machine, the workouts that you do via Mirror are not free and have a recurring monthly cost of $39. In my opinion, the recent purchase of Mirror solidifies Lululemon’s future growth trajectory and immediately positions the company as a disruptor to their competitors. The startup sells an immersive mirror through which customers can participate in fitness classes and personal training sessions. “Taking a step back, we think a small acquisition price ($500 million vs Lululemon's ~$39 billion enterprise value) and valuation at ~5x revenues (versus Peloton Interactive trading at >8.5x CY20 sales today) seems like a solid entry point for a shot on goal to connect LULU’s strong existing relationships with highly influential fitness instructors to its loyal/high frequency customer base.”. The grand opening weekend was welcoming and it was great to meet the staff, many of whom came from out-of-state. With it, six users are able to take unlimited classes whenever they want, and the charges begin upon delivery. Together, the two companies brought meditation classes to the platform after Lululemon invested in the startup last year. It was space that Putnam could afford, but she had to install custom-built equipment that could be removed weekly for Sunday morning services and rebuilt again shortly after. Like us on Facebook to see similar stories, 5 Sure Ways You Can Catch COVID, According to a Doctor, Ted Cruz's former staffers say they are 'disgusted' by his role in the US Capitol insurrection and his unflinching support of Trump, report says. Mirror costs nearly $1,500 before tax and installation fees, plus ongoing subscription fees of $39 per month (for up to six people in a household) to access its on-demand or live classes. The athleisure company’s first acquisition is a bet on the future of fitness and a way to further tie into the lives of its customers. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. © 2021 TheStreet, Inc. All rights reserved. "The acquisition of Mirror is an exciting opportunity to build upon that vision, enhance our digital and interactive capabilities, and deepen our roots in the sweatlife," said CEO Calvin McDonald. Lululemon said Mirror will operate as a standalone firm, with Putnam as CEO and reporting into McDonald once the transaction is complete. The transaction was concluded on July 7th. Lululemon Is Buying Mirror. The high price of Mirror is also in line with what you see with other connected gym equipment. At around $1,500 per unit, Mirror's signature fitness product is cheaper than the Peloton Interactive (PTON) - Get Report bicycle but charges a similarly-priced monthly subscription fee … On June 29, Lululemon Athletica (NASDAQ:LULU) announced a strategically important move to acquire MIRROR for $500 million. The transaction builds on a partnership between … The company offers a mirror that turns into an interactive home gym. Action Alerts PLUS is a registered trademark of TheStreet, Inc. The startup went on to partner with Lululemon to begin expanding its content. "Fitness is just one of the many content experiences in the home," she said at the time. VANCOUVER, British Columbia–(BUSINESS WIRE)–Jun. “While there are very few case studies of profitable connected fitness businesses, we see several synergistic opportunities for Lululemon,” said Credit Suisse analyst Michael Binetti. Mirror, which launched in September 2018 and has raised $72 million from investors including Lululemon, is one of several companies changing the fitness landscape by making it easy for anyone to engage in live or on-demand interactive workout classes from the comfort of their home — with a substantial price tag. Putnam, a former dancer for the New York City Ballet, in 2010 opened a boutique fitness studio inside of a church in Manhattan. Personal training sessions run an additional $40 each. Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million. Lululemon shares were marked 4.7% higher in early trading Tuesday to change hands at $308.24 each, a move that would extend their year-to-date gain to around 33%. Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m). 19 reviews of Lululemon Athletica "It was super exciting to have an actual lululemon athletica open at Virginia Beach Town Center last October 2014. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Lululemon (NASDAQ:LULU) has been lagging since the company reported earnings in early June. Simultaneously, she noticed how much customers at Refine Method loved working out alongside mirrors. Lululemon Athletica Inc. has agreed to acquire on-demand interactive workout platform Mirror for $500 million.. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Lululemon Athletica just spent half a billion dollars to buy at-home workout startup Mirror, and its shares are climbing. Mirror's virtual training classes are only available for owners of its nearly $1,500 device. Less than two feet of wall space becomes your personal fitness studio; and when you’re not using it to work out it’s a polished, functional mirror. Shares of sports retailer Lululemon Athletica Inc. LULU, -1.31% rose 3% in after-hours trading Monday following its announcement that it has agreed to acquire Mirror, an in … At around $1,500 per unit, Mirror's signature fitness product is cheaper than the Peloton Interactive (PTON) - Get Report bicycle but charges a similarly-priced monthly subscription fee of around $40 for live and on-demand classes. Scroll on to score the good prices on everything from Schwinn to Lululemon, Nike, Mirror, and an endorphin-load of others in between. The company said Monday that it has entered into an agreement to buy home exercise startup Mirror for $500 million. Mirror costs nearly $1,500 before tax and installation fees, plus ongoing subscription fees of $39 per month (for up to six people in a household) to access its on-demand or live classes. Putnam explained that she's building a product that can flex as trends change. Putnam came up with the idea for Mirror after she struggled to fit workout classes into her schedule as a pregnant entrepreneur. With a 2020 run rate of $100 million in annual revenues, Mirror is likely to be modestly dilutive to earnings this year, Lululemon said, before adding modestly to the group's overall bottom line in 2021. The Mirror’s elegant design fits seamlessly into any room in your home. As always, shipping is free. In a statement, Lululemon CEO Calvin McDonald said the company looks forward to working with Mirror to "accelerate the growth of personalized in-home fitness.". The Mirror is the nearly invisible home gym that transforms less than 2 feet of wall space into a cardio class, yoga studio, boxing ring, and so much more. Lululemon to buy at-home fitness startup Mirror for $500 million. Acquisition of MIRROR: On June 29, LULU announced its acquisition of Mirror for $500m. 206 reviews of Lululemon Athletica "I am so impressed! Putnam told CNN Business last fall that the startup expected to expand into other aspects of life, including health, fashion and beauty. Warriors Ship Out Price / Point-guard glut gone; Magic deal Shaw, Vaughn ... Shopping These $20 Amazon leggings are a great Lululemon dupe. Lululemon Athletica Inc. (LULU) - Get Report shares surged higher Tuesday after the athletic apparel company said it would purchase upstart at-home fitness company Mirror for around $500 million. John covers consumer goods and technology companies for Fool.com. Lululemon’s acquisition of Mirror, the home-fitness startup that streams workouts through a mirror-like device, for a reported $500 million last week, is pure omnichannel retailing gold. Lululemon Athletica Inc. is buying at-home fitness company Mirror for $500 million, a deal that aims to capitalize on pandemic-fueled upheaval in the fitness and retail industries. She sought to blend the two concepts. In other words, it's more about the ability to connect with consumers in their homes with ease than it is about the particular application. Mirror: $1,495 Delivery and installation (recommended): $250 Subscription (required): $39 a month ($468 a year), with a one-year minimum commitment First-year total (excluding tax): $2,213 When turned off, it acts as a full-length basic mirror. As the appeal of at-home workouts has become more ubiquitous during the pandemic, Lululemon, the athletic apparel company, is going all in on the craze. Why That’s a Smart Move. While taking classes like cardio workouts, yoga and boxing, customers can see key metrics like their heartbeats-per-minute (or BPM) and calories burned. Mirror wants to be "the third screen in your life," she said at the time. In a conversation shortly before at-home fitness company Peloton went public last fall, Mirror founder and CEO Brynn Putnam told CNN Business her company is taking a "different approach than the competition.". Mirror sells a $1,495 reflective display for streaming workouts The Times says Mirror expects to bring in over $100 million in revenue this year and … Lululemon, which previously held a private investment in Mirror, said it would sell the company's key fitness device -- a full-length mirror that customers use in an interactive fitness regime -- both online and in its stores once the deal is complete. lululemon makes technical athletic clothes for yoga, running, working out, and most other sweaty pursuits. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror for $500 million. Installation and delivery is $250. "We look forward to learning from and working with Brynn Putnam and the team at Mirror to accelerate the growth of personalized in-home fitness.”. The Mirror acquisitions adds “yet another way that Lululemon will personally engage with customers and provides opportunities for personal interactive commerce for … Though the Peloton Bike and Tread are more expensive, the … 29, 2020– lululemon athletica inc. (NASDAQ:LULU) today announced that it has entered into a definitive agreement to acquire MIRROR, a leading in-home fitness company that created an interactive workout platform that features live and on-demand classes, for a purchase price of $500 million. The Mirror Acquisition: Analysts have started parsing Lululemon's purchase of the in-home fitness company Mirror, which was announced in June for $500 million. The device, which is controlled by an app on your phone, comes with fitness bands, a stand and a Bluetooth heart-rate monitor. For 2020 LULU's management expects $150m in … (Mirror/Twitter) Lululemon has announced that it has acquired Mirror, an in-home fitness company, for a purchase price of $500 million. 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. Lululemon Athletica - Get Report shares are off the highs of the day, but still up about 6%, after the athleisure-apparel company agreed to buy at-home fitness company Mirror for $500 million. I forgot about it after trying on some clothes. Show full articles without "Continue Reading" button for {0} hours. Class subscriptions are $39 a month. The core Mirror product starts at $1,495 and a subscription is $39 per month. Price breakdown: The Mirror itself is $1,495. 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