One option we did not touch on is the Lululemon Mirror, mostly because I did not believe it was a real thing. The sportswear brand said late Monday it had entered into a deal to snap up the in-home fitness startup, known for its interactive mirror workout platform that features live and on-demand classes. According to Reuters, Apple still plans on making an Apple Car. 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. Mirror's $100 million in projected revenue for this year would represent just 2.5% of Lululemon's expected sales in the same period. Buckle up, because we could be in for one of these power adapter blocks on wheels: Of course, you’d hope they’d be somewhat sleeker than that. As mentioned, it’s a lifestyle. Mirror: Retails at approx. Connected Home. Lululemon declined to say how much Mirror made in 2019 or disclose user metrics. “On the flip side, Lululemon sees Mirror as a dynamic platform to enhance and scale omni-channel customer experiences, amplify Lululemon ambassadors and community, create an immediate revenue stream with path to profitability, and establish product integration opportunities.”. Isn’t one of the pluses of Roku that it is platform-neutral? “As part of Lululemon, Mirror can further strengthen its position and accelerate its growth by leveraging Lululemon’s deep relationships with its guests, ambassadors and communities, as well as the company’s infrastructure, including its store network and e-commerce channels, to acquire new users,” added Putnam. In other words, Roku is getting into the content business. Your email address will not be published. “We look forward to learning from and working with Brynn Putnam and the team at Mirror to accelerate the growth of personalized in-home fitness.”. Lululemon expects the deal to close within the next few weeks. Lululemon knows that its brand is much more than the clothes that they sell. ... (Mirror offers 12-, 24-, and 36-month financing plans.) One option we did not touch on is the Lululemon Mirror, mostly because I did not believe it was a real thing. Included in the $39/mo MIRROR Membership required with The Mirror purchase. Amazon competes with HBO via its own streaming service, Amazon Prime, and so it was always going to be a tough negotiation. That’s right, an actual physical car. Lululemon with Mirror will focus on experiences, not just retail The deal furthers Lululemon’s shift to become a more experience-based company and beyond its roots as a traditional retailer. Pretty much all of your important health data is tracked by your Apple Watch, and that isn’t even counting the enhancements of Apple Fitness+. New Apple Watch Series 6 (GPS + Cellular, 40mm) – Graphite Stainless Steel Case with Black Sport Band — $699. 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That particular athleisure company, actually: Lululemon, which first made a small $1 million equity investment in Mirror in 2019. What took so long? With Avant-Garde Unboxing, Lew Reminds Us Why He’s The Best, HBO Max Would Be Nice If You Could Actually Watch It, How AirPods Have Gotten Me Through Quarantine, Your email address will not be published. Just today, Lululemon announced that it is installing Mirrors in 18 of its now 506 U.S. locations, including San Francisco, Washington, D.C. and Miami. 3 Useful Car Accessories That You Actually Need, This Tent For Your Car Protects It From Bricks That Fall From The Sky (And Other Acts Of God), Book Review: “A Concise History of Hungary”, Read These Christmas Books On Christmas Eve. You can bring your own Mirror home for $1,495 USD. The Lululemon Mirror is just the latest example of wellness technology designed to capture any and all information about its users. Lululemon is financing the transaction through a combination of cash and its credit facilities. ANCHEER Electric Bike Electric Mountain Bike 350W Ebike 26” Electric Bicycle, 20MPH Adults Ebike with Removable 7.8/10.4Ah Battery, Professional 21 Speed Gears — $645.99. If you buy something we link to on our site, Refinery29 may earn commission. The new iPad Pro might be a better target: New Apple iPad Pro (11-inch, Wi-Fi, 128GB) – Silver (2nd Generation) — $794. Now we know the answer. (For those folks who do still value privacy, Lululemon insists that turning on the camera is merely “an option.”). The athleisure company’s first acquisition is a bet on the future of fitness and a way to further tie into the lives of its customers. Susquehanna Financial Group analyst Sam Poser, who maintained his price target of $360, wrote that the synergies between both brands will become evident over the next one to two years, particularly in coronavirus times. For the time being, let us rejoice and be glad that we can finally watch HBO Max in peace. This idea is well-summarized by … Looking For An Alternative To The Always Pan? The most interesting opportunity, however, isn’t in traditional cross-selling through marketing emails and retail stores. Meet MIRROR. Your Kid Wants Squeakee The Balloon Dog For Christmas, Take A Load Off With The oFlexiSpa Foot Massager. "The first thing most people say when they see the Mirror is, 'This is the future,'" Putnam said. WordPress.com VIP. (Mirror was purchased by Lululemon last year, and the device features prominently on the Lululemon website.) "The first thing most people say when they see the Mirror is, 'This is the future,'" Putnam said. Just when you thought Apple had devoted all of its R&D capabilities to coming up with $550 headphones, a report comes out indicating that innovation may not be dead. Shares for Lululemon are up about 33.5% in the year to date. … John covers consumer goods and technology companies for Fool.com. This marks Lululemon’s first acquisition. So what will the Apple Car look like? Lululemon just made a bet that the $1,500 interactive workout Mirror is the future of fitness, and it should terrify boutique workout studios Mary Hanbury Oct 31, 2019, 2:20 AM Powered by Athletic wear company Lululemon and supermodel Karlie Kloss are investing in Mirror, the New York-based startup known for selling interactive workout mirrors.. Lululemon (NASDAQ: LULU) did … A down payment may also be required. Let’s hope that’s the case. Apple had devoted all of its R&D capabilities. But considering we own a plethora of Amazon Fire and Roku devices, it would have been nice to actually use them to watch the shows we are paying for. Who knows, maybe I will even get an Apple Car one day. For now, the deal seems to be clicking. It also offers one-on-one personal training services. There must be, considering Lululemon bought the start-up responsible for the device for $500 million. Unclear. Brynn Putnam, Mirror’s founder and chief executive, will retain her role and report to Mr. McDonald. The deal is expected to close within one to two weeks. Cross-Sell Mirror into lululemon. The … While Lululemon hasn’t started selling products directly through Mirror yet, “shoppable content” is “certainly on our radar” too, says Putnam. Considering reports that sales of their devices have outpaced others on the market during the pandemic, this is big news for the entertainment industry, and it may make negotiations between the various players all the more hostile in the future. $1,495.00; Membership cost of $39/month; More class options; Peloton. The fitness lifestyle company announced on … Last quarter, lululemon athletica (NASDAQ:LULU) got in the game with the $500 million acquisition of Mirror, a maker of premium digital workout displays, and … After the deal closes, Mirror will continue to operate as a stand-alone company within Lululemon. At first glance, there’s one obvious reason why lululemon purchased Mirror: cross-selling Mirror’s product in the lululemon marketing machine. Lululemon expects the deal to close … The $500 million all-cash sale is the first acquisition ever made by the 22-year-old retailer. They have 489 company-owned stores that do … The Mirror exists, and it is a sign of the times. Until recently, many people (myself included) had thought the term referred to Pelotons and other stationary bicycles. Maybe this is a good thing, leading to a healthier populace. (Putnam will continue as Mirror’s CEO, reporting directly to McDonald.). Wrong. Roku announced today that it had acquired the library of Quibi, an erstwhile streaming service that went bankrupt not too long ago. 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. At Refinery29, we’re here to help you navigate this overwhelming world of stuff. Because if the data falls into the wrong hands, there is little doubt that it could be used to nefarious ends. Once the deal closes, Mirror will operate as a standalone company within Lululemon, which is based in Vancouver, British Columbia. ), “The acquisition of Mirror provides Lululemon a foothold in the home fitness market, which has become more important due to the COVID-19 crisis,” he wrote in a distribution note. The Canada-based brand’s acquisition of Mirror — founded two years ago by former Lululemon ambassador Brynn Putnam — adds to its five-year growth plan unveiled in 2019. Individuals can also apply for Affirm, which allows for 12, 24, or 36 monthly payments. Lululemon Is Buying Mirror. Mirror, which launched in 2018, sells a $1,500 interactive mirror that streams live and on-demand workout classes. So, now that the clock's ticked us into 2021 amidst a slew of new … Fire TV Stick 4K streaming device with Alexa Voice Remote | Dolby Vision | 2018 release — $49.99, Roku Streaming Stick+ | HD/4K/HDR Streaming Device with Long-range Wireless and Voice Remote with TV Controls — $48.26. © 2021 Fairchild Publishing, LLC, a subsidiary of Penske Business Media, LLC.FN and Footwear News are registered trademarks of Fairchild Publishing, LLC. These are way cooler than the electric scooters that became a fad in summer 2019. The Lululemon Thesis: McClintock estimated that Mirror has the potential to reach $2.5 billion in revenue and contribute an additional 50 cents to Lululemon's EPS by 2023. Lululemon should be praised for this strategic acquisition – or at least see a … Measuring a tad over 5 feet, 4 inches with the stand, it’s about the same size as a full length mirror. The free space that isn't already occupied by our bed is now a designated yoga spot, the empty few feet between our couch and TV now exists as a cardio zone, and streaming virtual classes are our new workout routines. Apple has a fix on our culture that way. After focusing on software for years, Apple’s muckety-mucks presumably decided they were due for another winner. The Wall Street Journal recently ran a feature on the growing practice of hypnosis via Amazon Alexa devices. Key Points Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. There is still so much up in the air right now, and it is not altogether clear that Apple itself has the answers. 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. But since Google’s spinoff Waymo is progressing apace, Apple did not want to be left in the dust. 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 is now selling Mirror at 18 stores with plans to expand in 2021, after it acquired the high-tech fitness company for $500 million in July. I have yet to use an e-bike, but they simply seem more fun than their analogue counterparts. If people are willing to bare their souls to a miniature robot, who am I to tell them off? Supposedly, Apple Cars will be using a “monocell” battery, allowing them to beat the market’s other electric vehicles on price. With this month’s news that Uber was abandoning its own self-driving car ambitions, the future of that technology seemed in doubt. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. With it, six users are able to take unlimited classes whenever they want, and the charges begin upon delivery. The Reuters report has precious little details about the Apple Car, with the most interesting tidbit being that the company plans to produce these cars by 2024. Buzzy exercise startup Mirror agreed to sell to Lululemon, the yoga clothing brand, for $500 million today. For those unfamiliar with the Mirror, it literally a $1,500 mirror, which in addition to filming your movements also displays workout videos so you don’t have to go to a gym. Yes, Mirror's audience and aesthetic mesh well with Lululemon's established brand, but its role is so much greater: ensuring that Lululemon has a pathway forward via technology if its retail segment falls flat. This is not the case. The Mirror exists, and it is a sign of the times. Why That’s a Smart Move. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. “For Mirror, Lululemon brings strong brand credibility,” he explained. Putnam will remain as CEO, reporting to Lululemon CEO Calvin McDonald, who Please fill out this field with valid email address. Required fields are marked *. While the Vancouver-based company has always leaned into health — with many of its existing stores offering free running clubs or yoga classes — last summer it moved to monetize its workout … They are also frequently used by delivery drivers, which has abetted the speed of takeout service in metropolitan areas. The Canada-based brand’s acquisition of Mirror — founded two years ago by former Lululemon ambassador Brynn Putnam — adds to its five-year growth plan unveiled in 2019. What Does MKBHD Think About The Tesla CyberTruck? Save my name, email, and website in this browser for the next time I comment. This makes them much easier to operate than a regular bike, which despite the old adage, you very much can forget how to ride. So the big question is, how much is the mirror workout? This isn’t only happening in the media, but on social media too. All-new Echo (4th Gen) | With premium sound, smart home hub, and Alexa | Charcoal — $99.99. Instead, it’s using Mirror as a new direct sales channel into the homes of millions of active customers. TBD. If you want to buy the workout mirror full price, it will cost $1,495. 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. All of our market picks are independently selected and curated by the editorial team. Want to read more articles like this one? Our long national nightmare is over. He added that Lululemon could leverage its global store base and e-commerce capabilities to sell Mirror, which is currently only available in the U.S. (About half of Mirror customers are Lululemon shoppers. Lululemon Athletica just spent half a billion dollars to buy at-home workout startup Mirror, and its shares are climbing. There’s no way the brand known for their overpriced yoga pants aspires to hang a giant two-way looking glass on people’s wall, right? Think about how much faster you can go! This acquisition of Mirror is an extension of this thought process, and the timing could not be more perfect. We will deal with the fallout later. Lululemon should be praised for this strategic acquisition – or at least see a price bump for its efforts. People are so tired of being trapped in their houses, they are now turning to life-size screens to simulate interpersonal interaction. Lululemon, the company behind trendy fitness apparel, is getting into the hardware business with Mirror. Is there a market for this? Yes, Mirror's audience and aesthetic mesh well with Lululemon's established brand, but its role is so much greater: ensuring that Lululemon has a pathway forward via technology if its retail segment falls flat. How much is it? A market capitalization of $ 40.5 billion and technology get an Apple Car one day so the question. Points Lululemon is financing the transaction through a combination of cash and its credit facilities getting the. | with premium sound, smart home hub, and its credit facilities close Lululemon! 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The oFlexiSpa Foot Massager deal is expected to close … Lululemon knows its! The speed of takeout service in metropolitan how much is the mirror lululemon these are way cooler the. Fitness lifestyle company announced on … the announcement about Lululemon ’ s that! Are: electric bicycles once the deal is expected to close within one to two weeks last year and.