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). The transaction builds on a partnership between … “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.”. 19 reviews of Lululemon Athletica "It was super exciting to have an actual lululemon athletica open at Virginia Beach Town Center last October 2014. With it, six users are able to take unlimited classes whenever they want, and the charges begin upon delivery. 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. 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. 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 went on to partner with Lululemon to begin expanding its content. 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.". 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 Lululemon (NASDAQ:LULU) has been lagging since the company reported earnings in early June. What is The Mirror? For 2020 LULU's management expects $150m in … 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 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%. 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. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror for $500 million. © 2021 TheStreet, Inc. All rights reserved. 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 … Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Warriors Ship Out Price / Point-guard glut gone; Magic deal Shaw, Vaughn ... Shopping These $20 Amazon leggings are a great Lululemon dupe. Installation and delivery is $250. 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. The company offers a mirror that turns into an interactive home gym. Though the Peloton Bike and Tread are more expensive, the … Lululemon to buy at-home fitness startup Mirror for $500 million. Show full articles without "Continue Reading" button for {0} hours. Putnam came up with the idea for Mirror after she struggled to fit workout classes into her schedule as a pregnant entrepreneur. 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. “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. Putnam told CNN Business last fall that the startup expected to expand into other aspects of life, including health, fashion and beauty. Personal training sessions run an additional $40 each. Lululemon Athletica just spent half a billion dollars to buy at-home workout startup Mirror, and its shares are climbing. The core Mirror product starts at $1,495 and a subscription is $39 per month. 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. Lululemon said Mirror will operate as a standalone firm, with Putnam as CEO and reporting into McDonald once the transaction is complete. When turned off, it acts as a full-length basic mirror. Why That’s a Smart Move. 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 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 … "Fitness is just one of the many content experiences in the home," she said at the time. 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. Acquisition of MIRROR: On June 29, LULU announced its acquisition of Mirror for $500m. The Mirror lets you sync your music via Bluetooth and measure your heart rate. Putnam, a former dancer for the New York City Ballet, in 2010 opened a boutique fitness studio inside of a church in Manhattan. Lululemon Is Buying Mirror. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. The Mirror’s elegant design fits seamlessly into any room in your home. 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. VANCOUVER, British Columbia–(BUSINESS WIRE)–Jun. 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