Lululemon recently acquired MIRROR, the home fitness platform, in a $500 million USD deal. The fitness platform will now operate under Lululemon, and Brynn Putnam will continue to act as the Mirror CEO. Calvin McDonald, the Lululemon CEO, made a statement about the acquisition, "In 2019, we detailed our vision to be the experiential brand that ignites a community of people living the sweatlife through sweat, grow and connect." McDonald also stated that acquiring MIRROR will help the company build on the vision of promoting a lifestyle brand.
Acquiring a home fitness platform can also help the company provide workouts to consumers, at a time when many gyms are not able to operate due to ongoing social distancing measures.
Home Fitness Acquisitions
Lululemon Acquired the Mirror Home Fitness Platform in a Lifestyle Move
Trend Themes
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Home Fitness Platforms — The acquisition of MIRROR by Lululemon shows the increasing demand for at-home fitness solutions.
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Experiential Fitness — Lululemon's vision as an experiential brand shows that providing immersive fitness experiences at home could be a disruptive innovation opportunity.
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Fitness Community — Lululemon's desire to ignite a community of people living the sweatlife highlights the potential for building fitness communities through online platforms.
Industry Implications
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Fitness Equipment — Acquiring home fitness platforms like MIRROR could be a disruptive innovation opportunity for companies that specialize in fitness equipment manufacturing.
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Apparel Retail — The acquisition of MIRROR by Lululemon highlights the potential for apparel retailers to expand their offerings to include home fitness platforms.
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Online Fitness — The increasing demand for at-home fitness solutions presents a disruptive innovation opportunity for online fitness platforms and apps.