MIRROR subscription service comes at a price tag of $40 per month and customers have to pay for the MIRROR device around $1,500. In addition to the cost of the machine, the workouts that you do via Mirror are not free and have a recurring monthly cost of $39. We love the brand, but are wary that sales and margins are approaching a crossroads.”. The United Kingdom’s use of genomic sequencing to identify a more infectious strain of SARS-COV-2 has largely served as a wake-up call for inadequate use of the technology in the U.S. Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. Lululemon is buying at-home fitness company Mirror for $500 million, a deal that aims to capitalize on pandemic-fueled upheaval in the fitness and retail industries. 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. lululemon. Post was not sent - check your email addresses! has slipped 3.3% for the period. “Mirror’s target customer is very similar to Lululemon’s higher income, active lifestyle customer base, which will lower its customer acquisition costs,” wrote Bank of America analysts led by Rafe Jadrosich. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror for $500 million. Mirror Workout is owned by Lululemon. If Mirror reached that revenue figure, it would account for about 10% of Lululemon’s The stock has rallied nearly 33% for the year to date while the S&P 500 index While Lululemon hasn't started selling products directly through Mirror yet, "shoppable content" is "certainly on our radar" too, says Putnam. Lululemon investors are hoping that the Vancouver company can ride a similar wave of momentum with Mirror. Following completion of the transaction, Mirror will operate as a standalone company within Lululemon and Mirror’s founder Brynn Putnam will continue as its CEO. Despite the acquisition by Lululemon, Mirror is set to remain operational as a stand-alone company. Lululemon has announced that it has acquired Mirror, an in-home fitness company, for a purchase price of $500 million. The Mirror is getting (even more) personal! The COVID-19 earnings recession is expected to remain, but an end may be in sight, 4 financial resolutions that you can set (and actually keep) in 2021.  , “suggesting Lululemon’s ability to reach and grab the incremental at-home fitness customer away from Peloton could be meaningful.”. The transaction is subject to conditions, but is expected to close in the second quarter of fiscal 2020. Installation and delivery is $250. Prior to the COVID-19 outbreak, at-home fitness was a growing business, with Bank of America forecasting disruption at the high end of the health club category as Mirror and other options make classes cheaper. “What the two companies ultimately do for each other remains to be seen. Women; Men; Accessories; Community; Mirror; Sign In; 0; Meet MIRROR. Also:Gap hopes it can burnish its image with a new Kanye West clothing line, repeating the rapper’s brand success with Adidas, BMO also highlights the likely consumer overlap between Mirror and Peloton Interactive Inc. Women's What's New; Men's What's New; All Women's ; All Men's; All Accessories; slide 1 of 2.Shop Align. Book today for just $40 per session. Raymond James rates Lululemon shares strong buy with a $335 price target. Shop The Mirror. How do I split my estate between my girlfriend and daughter? SPX, Stay strong all year with MIRROR. Raymond James analysts see the acquisition as a long-term growth opportunity that bolsters the case for Lululemon’s stock price. This decision is likely due to the fitness brand’s founder, Brynn Putnam, who was a former Lululemon ambassador, who started the company two years ago. Copyright © 2021 MarketWatch, Inc. All rights reserved. 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. Calvin McDonald, Lululemon’s chief executive, said the deal will be financed with the company’s $1.5 billion in liquidity, with the transaction expected to close in a week or two. A digital Mirror … Lululemon says the purchase will be covered by the company’s primary sources of liquidity, which includes more than $800 million in cash, its existing $400 million revolving credit facility, and a new one−year, $300 million revolving credit facility. Both Lululemon and Mirror were said to have collaborated on content in 2019 after an initial investment on Lululemon’s part. Mirror founder Brynn Putnam, as seen in our Forbes magazine feature on the startup. Sorry, your blog cannot share posts by email. As long as you don't let the price scare you away, this brand has a lot to offer anyone that wants durable, comfortable, and lasting yoga pants. Try MIRROR Personal Training today and bring the country’s top trainers into your home through MIRROR’s immersive technology. Charges begin upon delivery it will acquire Mirror for $ 500 million a price: the is. And daughter that bolsters the case for Lululemon ’ s LULU, %... See the acquisition could prove to be a boon to Lululemon ’ s part it will acquire Mirror for 500! Into an agreement to acquire in−home fitness company Mirror will get it too an initial investment on Lululemon s! Annual total over time. ” and previously handled media relations for MSLGroup ’ s valuation time.. 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