How do I split my estate between my girlfriend and daughter? In a statement, Lululemon Chief Executive Calvin McDonald said the acquisition of Mirror will "accelerate the growth of personalized in-home fitness." The stock has outperformed in 2020, having risen 36% year to date, thanks to the popularity of athleticwear while people work at home during the Covid-19 pandemic. Duffy is hopeful that Mirror will “further improve” Lulu’s digital competencies, and he appreciates its efforts to reach “new and existing customers on a new platform that has seen solid traction particularly throughout the pandemic,” with total downloads up 62% since March 1. The addition of Mirror offers Lulu a “place in the home with its hardware + content,” as well as “daily mindshare and a platform for its 2000+ ambassadors and events,” Cowen added. Founded. Mirror has developed weekly live classes and thousands of on-demand workouts as well as immersive one-on-one personal training. ... Having said that, if the stock … There are six types of retirees — which are you. Raymond James rates Lululemon stock strong buy with a $400 price target, up from $335, saying the company is poised for acceleration in 2021 for a … Lululemon Shares Jump After $500 Million Deal To Mirror Mirror, one of the key challengers to Peloton Interactive in the at-home fitness market, will be … Before it's here, it's on the Bloomberg Terminal. Lulu’s “best-in-class” liquidity positioning will be sufficient to fund the transaction and still leave “ample room” to support business operations. LULU, On June 29, Lululemon Athletica (NASDAQ:LULU) announced a strategically important move to acquire MIRROR for $500 million. What is The Mirror? 7 Tech Stocks to Buy for a Very Happy Holiday Season Lululemon is beating earnings estimates, even during the pandemic, and keeps expanding its reach. This is Lulu’s first acquisition. The deal builds on a business relationship that began in mid-2019, with an initial investment in Mirror by Lululemon. New York NY, US. Lululemon stock rose Tuesday after Deutsche Bank suggested that the yoga apparel and accessories maker might have had a stronger holiday season than … Shares of Lululemon are up 27% in 2020. Summary. is up 3% this year. How much money was President Trump’s Twitter account worth? -0.93% A good example is Lululemon's recent acquisition of Mirror, which competes with Peloton in the $500 billion global market for physical activity. 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 it … The broader S&P 500 index Read More: Lululemon Hits Record on High Hopes for Athleisure Trend. MIRROR offers the world’s first nearly invisible, interactive home gym featuring live and on-demand fitness classes in a variety of workout genres. The S&P 500 Index has dropped 5.3% thus far this year. John covers consumer goods and technology companies for Fool.com. Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Mirror is an interactive workout platform that looks like a mirror when it isn’t in use, but becomes a screen showing fitness classes and more when activated. With about 50% of overlap between Mirror and Lulu customer bases, Kernan sees “significant opportunity to expand awareness of Mirror and build membership and product conversion/commerce for Lulu.”. Peloton and Lulu customers likely share a “meaningful overlap,” which to Siegel suggests that Lulu’s ability to “reach and grab the incremental At-Home fitness customer away from PTON could be meaningful.”, “We love the brand, but are wary that sales and margins are approaching a crossroads.”, First-ever acquisition for LULU sends shares climbing, Mirror has ‘massive’ total addressable market, Cowen Says. Lululemon (NASDAQ: LULU) has been lagging since the company reported earnings in early June. In June this year, Lululemon acquired Mirror, a lifestyle fitness company for $500 million. The Mirror lets you sync your music via Bluetooth and measure your heart rate. Copyright © 2021 MarketWatch, Inc. All rights reserved. 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. Mirror basically makes a mirror that works as a giant iPad for fitness classes. rose 3% in after-hours trading Monday following its announcement that it has agreed to acquire Mirror, an in-home fitness company that created an interactive workout platform, for $500 million. Lululemon Athletica shares rose the most in more than two months on Tuesday after the yoga-wear maker agreed to buy Mirror, a producer of in-home fitness equipment, for $500 million. My parent had early-onset Alzheimer’s, and I’m afraid I will get it too. Total Funding. 2016. Notable Investors. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror … Lululemon Athletica Inc. (LULU) announced yesterday that it will be acquiring the at-home fitness company Mirror for $500 million. About MIRROR Stock. A brand now owned by the fitness apparel company, lululemon, Mirror sells a $1,500 smart workout machine that aims to bring the advantages of a brick-and-mortar fitness studio into the comfort of your home. Lululemon Buys Peloton Competitor Mirror. In a statement, Lululemon Chief Executive Calvin McDonald said the acquisition of Mirror will "accelerate the growth of personalized in-home fitness." The Mirror purchase transforms Lululemon from a traditional retailer into a subscription-based firm with strong recurring revenues. Shares of sports retailer Lululemon Athletica Inc. Here’s what analysts are saying about the acquisition: “We see a large base of consumers willing to pay for premium fitness/lifestyle content and a financial model that likely has meaningful opportunity to leverage fixed costs as it scales.”. -0.72% Jamel Toppin for Forbes. Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million. +13.05 +0.35% Lululemon Athletica shares rose the most in more than two months on Tuesday after the yoga-wear maker agreed to buy Mirror, a … Tesla Inc. got a another bullish endorsement Friday from Wedbush's prolific analyst Dan Ives, who raised his stock price target by 33%, but he still won't recommend investors buy the stock. Fitness Technology Startup. Mirror has a “lean” financial model and a “multi-faceted” value proposition compared to others in the At-Home Fitness market. Lululemon Athletica Inc. 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. The Mirror is the nearly invisible home gym that transforms less than 2 feet of wall space into a cardio class, yoga studio, boxing ring, and so much more. Rates outperform, price target to $335 from $311. Have a confidential tip for our reporters? The … Shares gained as much as 8%, the biggest intraday advance since April 17. 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. Lululemon (NASDAQ: LULU) is seeing an increase to LULU stock on Tuesday after announcing plans to purchase startup Mirror for $500 million. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. Even before MIRROR, Lululemon has seen impressive gross margin expansion since FY2016 (56% vs. 48%), and MIRROR could catapult gross margins to new highs. MIRROR Stock. Why Its Stock Is Rising. Headquarters. Home-fitness company Mirror, which sells a full-length mirror with an interactive display, featuring a camera and speakers, has raised $34 million from investors including Lululemon. 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