Lululemon has announced that it has acquired Mirror, an in-home fitness company, for a purchase price of $500 million.. ”In every way, shape and form, this is a fairy-tale story.”. The fitness industry is valued at over $82b USD 174m people are part of a health and fitness club worldwide The health industry is growing at 8.7% annually Mirror Combo is LuluLemon in Peloton’s Eye Shop The Mirror. With the use of a companion app, it streams live and on-demand fitness classes directly onto its reflective surface. The cost might look steep, but analysts agree it is a good strategic move for Lululemon. Buzzy exercise startup Mirror agreed to sell to Lululemon, the yoga clothing brand, for $500 million today. At first glance, there’s one obvious reason why lululemon purchased Mirror: cross-selling Mirror’s product in the lululemon marketing machine. lululemon Align™ Pant 25" Diamond Dye $118.00 USD. (RTTNews) - Lululemon Athletica Inc. (LULU) Monday said it has agreed to buy MIRROR, a in-home fitness company, for $500 million. lululemon makes technical athletic clothes for yoga, running, working out, and most other sweaty pursuits. Because fitness mirrors require a considerable financial commitment (about $1500 to $2000), we used to be a bit skeptical. Thousands of classes Access any class you want from our extensive library, available 24/7. The innovative at-home fitness platform’s best-in-class content features lululemon ambassadors and fellow celebrated instructors leading a variety of immersive and personalized fitness and mindfulness solutions. Even before the coronavirus pandemic forced gyms to close, it had been growing fast. For more on Mirror, read our magazine profile here. Well, the Mirror workout cost will depend on whether or not you choose a monthly payment plan. We've detected you are on Internet Explorer. One of 25 companies to make the cut for this year’s Forbes Next Billion-Dollar Startups, its revenue reached an estimated $45 million last year and was on track to surge past $100 million this year. Earlier, lululemon predicted the MIRROR buyout to contribute more than $150 million to revenues in fiscal 2020. Individuals can also apply for Affirm, which allows for 12, 24, or 36 monthly payments. The Mirror ($1,495 plus a $39 per month subscription; mirror.co) Note: The prices above reflect the retailer’s listed price at the time of publication. Or, take a Personal Training Session and get 1:1 expert instruction. Yoga-pants retailer Lululemon Athletica Inc. agreed to buy Mirror, a maker of in-home fitness equipment, for $500 million, broadening a partnership that began last year as … The mirror, with the associated financing monthly, could be a competitive option cost-wise. Skip Navigation. I also edit the Next Billion-Dollar Startups list. A mirror, the hardware, costs $1,495. The nearly invisible home gym that transforms less than two feet of wall space into a cardio class, a yoga studio, a boxing ring, and so much more. Lululemon chipped in for an undisclosed amount and became one of Mirror’s minority owners. Before the deal was announced, Mirror’s previous private company valuation was $300 million, and Forbes estimated that Putnam, the company’s sole founder, was worth at least $80 million. $1,495.00; Membership cost of $39/month; More class options; Peloton. Former ballerina Brynn Putnam founded New York City-based Mirror, which offers $1,495 interactive mirrors on which to take exercise classes at home. For Mirror, Lululemon's 500 or so stores provide a brick-and-mortar opportunity without the steep customer acquisition cost of establishing its own stores, Wedbush also said. Therefore, it’s not just another one-off hardware sales, but generates a steady, recurring subscription-based cash flow. lululemon Align™ Tank Diamond Dye $64.00 USD. Real-time optimizations based on your preferences and personal profile. Retails at approx $2,245.00; Membership cost of $39/month; Limited to spin/riding classes; And the combo with Lululemon is crucial, as Lululemon is dominating Peloton when it comes to share of voice. There's no Android app and it doesn't support any third-party fitness apps or smart home platforms. Mirror: Retails at approx. The Mirror is a hefty hunk of glass and technology. Before. Theoretically, the $500 million purchase of Mirror will allow Lululemon to leverage cross-sell opportunities and create a brand new revenue stream. All Rights Reserved, This is a BETA experience. “As part of Lululemon, Mirror can further strengthen its position and accelerate its growth,” she said in a statement. MIRROR to be acquired for $500 million. When turned off, it acts as a full-length basic mirror. The company offers a mirror that turns into an interactive home gym. They often make it on “best of” lists, even at the usual $98 to $128 a pair for Lululemon yoga pants. 0. John covers consumer goods and technology companies for Fool.com. On Monday, Lululemon announced that it was acquiring the connected fitness company for $500 million. The company plans to keep Mirror operating, although instructors might end up wearing Lululemon apparel. It also marks Lululemon's first acquisition. With the acquisition valuing the company at $500 million, her stake is likely worth more than $130 million. For now, the deal seems to be clicking. They have 489 company-owned stores that do … On Monday, lululemon announced that it is going to acquire at-home fitness startup Mirror for $500 million. ... Inc. and a Mirror user. The deal builds on a partnership between the two companies that began in mid-2019, when Lululemon made an initial investment in Mirror. Mirror, the fitness startup that brings boutique fitness classes home with high-tech mirrors, raised roughly $34 million in a new funding round led by Point72 Ventures. As the at-home fitness trend continues … The company offers a mirror that turns into an interactive home gym. For the best … 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. But although it is beautifully made and nearly seamless to operate, the Mirror costs around $2,200 for the first year, including the required monthly subscription. Pandemic changes the way Americans workout 05:06. At-home fitness has been having a moment particularly over the past few months, and startup Mirror was able to cash in big on it. I also edit the Next Billion-Dollar Startups list. The sale also represents a big win for venture capital firms Lerer Hippeau, Spark Capital and Point72 Ventures, the VC firm of hedge fund billionaire Steve Cohen. ET Extended protection plans are also available. Lululemon is acquiring fitness hardware startup Mirror for $500 million. However, it's also a name filled with controversy. With yoga, boxing, meditation, a $40 personal training session which was introduced last year, live stream, and on-demand sessions, Lululemon and Mirror are … Mirror price and availability You can buy Mirror online through the company's website for $1,495, plus tax and a $250 fee for white-glove delivery and installation. It measures 52" x 22" x 1.4" inches and weighs 70 pounds. Jamel Toppin for Forbes. You can now shop the smart mirror everyone has been talking about at lululemon. The nearly invisible home gym that transforms less than two feet of wall space into a cardio class, a yoga studio, a boxing ring, and so much more. First, they come in all sorts of options. To attend the on-demand or live fitness classes, you need to subscribe to the Mirror mobile app for $39/month. ... $3,000, and if you want the smart accessories (smart handles, smart bar, rope, bench, roller, and workout mat) they'll cost an … As always, shipping is free. Buzzy exercise startup Mirror agreed to sell to Lululemon, the yoga clothing brand, for $500 million today. The Wunder Under is a much-loved pair of yoga pants. 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. lululemon acquired MIRROR in July 2020. This mirror isn’t the only one of its kind. The Mirror team is working on an Android version, which we hope will be available soon.) Putnam did not immediately respond to request for comment on the sale. Floor stand and a $ 1,495, it ’ s CEO, directly... 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