Lululemon Acquires Fitness Company
Lululemon has acquired Mirror, the At-Home fitness equipment and subscription company based in the US for $500 million, the company announced today.
Mirror is a company that uses a ‘smart’ mirror to broadcast a subscription based workout platform. The cost of Mirror is $1495, with a subscription fee of $41.53/month USD. This is not yet available in Canada but I am hopeful that with lululemon’s investment and purchase it will come to the Canadian market soon.
I don’t think this purchase could have come at a better time for Lululemon. During coronavirus, at-home fitness equipment sales have exploded along with all sorts of large home-improvement purchases. I don’t see this trend phasing out as the pandemic restrictions ease. Employers are seeing the ability and benefits of a work from home workforce and the work-force is seeing the quality of life benefits of an eliminated commute. The natural extension of this is working out from home more. Even if it means maintaining a real world gym membership, I can definitely see this as being a great addition to typical workouts, not a replacement.
Now that summer is here, buying any type of fitness equipment has become next to impossible. From above ground pools and trampolines, to Peloton Bikes and campers and trailers, it is virtually impossible to find brand new. Prices for used equipment has inflated to meet the demands.
How have your workouts changed during the pandemic? Now that in many places the restrictions are easing up, are you changing back to your old workout routines? What new fitness lifestyle changes will you be keeping?