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.
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?
3 comments
Another fad. I probably won’t jump on this wagon. Looks very cool tho.
It’ll be interesting to see how much this gets adopted within the greater Lululemon community. I feel like it could go either way. It’s a glamorous piece of fitness equipment that doesn’t look like an eye sore.
I think it’s an interesting piece of at home workout equipment and I agree, this is a good time for these kinds of services. I had read a while back that Peloton was tanking, but this epidemic helped them. It will be interesting as things move back to normal if people will still want to have both the at home equipment and gym memberships.
I personally wouldn’t get one of these mirror, only because if they decided down the road to discontinue the service, it’d just be an expensive mirror. (And yes, I agree, it’s more attractive than having a treadmill or something, but it’s still a pretty basic mirror if it looses it’s functions.) At least with some of other things, like the Peloton bike, you could still use it for exercise, even if the service was discontinued.
It will be interesting to see how this trend plays out.