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.
Image Credit: MIRROR
What Makes This Trend Stand Out
- Home Fitness Platforms
- The acquisition of MIRROR by Lululemon shows the increasing demand for at-home fitness solutions.
- Experiential Fitness
- Lululemon's vision as an experiential brand shows that providing immersive fitness experiences at home could be a disruptive innovation opportunity.
- Fitness Community
- Lululemon's desire to ignite a community of people living the sweatlife highlights the potential for building fitness communities through online platforms.
Sectors Adopting This
- Fitness Equipment
- Acquiring home fitness platforms like MIRROR could be a disruptive innovation opportunity for companies that specialize in fitness equipment manufacturing.
- Apparel Retail
- The acquisition of MIRROR by Lululemon highlights the potential for apparel retailers to expand their offerings to include home fitness platforms.
- Online Fitness
- The increasing demand for at-home fitness solutions presents a disruptive innovation opportunity for online fitness platforms and apps.
