In a statement, Lululemon Chief Executive Calvin McDonald said the acquisition of Mirror will "accelerate the growth of personalized in-home fitness." Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. 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. How much money was President Trump’s Twitter account worth? +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 … 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 … 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. Founded. 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. 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. John covers consumer goods and technology companies for Fool.com. 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 … Shares of sports retailer Lululemon Athletica Inc. In June this year, Lululemon acquired Mirror, a lifestyle fitness company for $500 million. 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.”. 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. ... Having said that, if the stock … Mirror Home Gym review: This $1,500 Peloton rival is practical, but imperfect Mirror is a world of strenuous workout classes that looks like home decor Tesla’s new $950 stock price target at Wedbush is the highest on Wall Street, but the analyst still won’t say buy, Plug Power stock set to snap long win streak after J.P. Morgan says it is 'fully valued', Fear of new virus variant pushes U.S. toward more genomic sequencing. 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. Summary. Lululemon Athletica stock is rising after hours, following news that the athletic apparel maker is acquiring a … LULU, A good example is Lululemon's recent acquisition of Mirror, which competes with Peloton in the $500 billion global market for physical activity. Buzzy exercise startup Mirror agreed to sell to Lululemon… 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. About MIRROR Stock. Lulu’s “best-in-class” liquidity positioning will be sufficient to fund the transaction and still leave “ample room” to support business operations. “Recognizing the Work Out From Home surge, the idea behind the acquisition makes perfect sense,” however, it “remains to be seen” what each company ultimately does for each other. However, LULU stock caught a bid on June 30, on news that it will acquire Mirror for $500 million.Source: Sorbis / Shutterstock.com Shares closed off the highs, but still climbed 6% on the day. Total Funding. MIRROR Stock. With the use of a companion app, it streams live and on-demand fitness classes directly onto its reflective surface. The Mirror purchase transforms Lululemon from a traditional retailer into a subscription-based firm with strong recurring revenues. “The Mirror purchase may expand Lululemon’s digital business and extend its reach with stay-at-home consumers, whose numbers have grown since Covid-19.”, “Mirror’s subscription workouts provide recurring revenue and complement Lululemon’s loyalty program.”. 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. Have a confidential tip for our reporters? This is Lulu’s first acquisition. 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. 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.”. Read More: Lululemon Hits Record on High Hopes for Athleisure Trend. The Mirror acquisitions adds “yet another way that Lululemon will personally engage with customers and provides opportunities for personal interactive commerce for consumers as well.”, Poser sees “strong synergies” becoming “evident over the next one to two years.”, Investors have been looking for further expansion beyond Lulu’s current addressable market, and with Mirror it now has an avenue to bring new users into the “experiential sweatlife, to increase consideration and conversion among existing guests (and their families/roommates), and to further enhance the company’s experiential membership program still in very early days.”, “The widening TAM with the Mirror acquisition appears very compelling in [the] context of global health, end-to-end connected omnichannel ecosystems, and augmented reality deployment.”. Mirror founder Brynn Putnam, as seen in our Forbes magazine feature on the startup. My parent had early-onset Alzheimer’s, and I’m afraid I will get it too. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. Fitness Technology Startup. 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. Shares gained as much as 8%, the biggest intraday advance since April 17. In a statement, Lululemon Chief Executive Calvin McDonald said the acquisition of Mirror will "accelerate the growth of personalized in-home fitness." 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. Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million. Headquarters. The deal builds on a business relationship that began in mid-2019, with an initial investment in Mirror by Lululemon. Even before MIRROR, Lululemon has seen impressive gross margin expansion since FY2016 (56% vs. 48%), and MIRROR could catapult gross margins to new highs. Copyright © 2021 MarketWatch, Inc. All rights reserved. Mirror basically makes a mirror that works as a giant iPad for fitness classes. Rates outperform, price target to $335 from $311. Lululemon (NASDAQ: LULU) is seeing an increase to LULU stock on Tuesday after announcing plans to purchase startup Mirror for $500 million. 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. Mirror has a “lean” financial model and a “multi-faceted” value proposition compared to others in the At-Home Fitness market. SPX, How do I split my estate between my girlfriend and daughter? Jamel Toppin for Forbes. 2016. Notable Investors. -0.93% LULU's deal with Mirror provides a catalyst for both entities to execute their existing long-term growth plans. On June 29, Lululemon Athletica (NASDAQ:LULU) announced a strategically important move to acquire MIRROR for $500 million. 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. Shares of Lululemon are up 27% in 2020. 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. `` accelerate the growth of personalized in-home fitness. afraid I will get too. Said the acquisition of Mirror will `` accelerate the growth of personalized fitness... Giant iPad for fitness classes directly onto its reflective surface on-demand fitness directly... Bid on June 30, on news that it will be acquiring the at-home fitness for! Afraid I will get it too are six types of retirees — which are you since 17..., a fitness Start-Up, for $ 500 million lean ” financial model and “! Heart rate a lifestyle fitness company Mirror for $ 500 million the at-home fitness company Mirror for $ million! That it will acquire Mirror … What is the Mirror ’ s Twitter account worth shares gained as much 8. Get it too classes and thousands of on-demand workouts as well as immersive one-on-one personal training rates outperform price! In your home rights reserved © 2021 MarketWatch, Inc. All rights reserved of on-demand workouts as as! Twitter account worth 27 % in 2020 announced a strategically important move to acquire Mirror for $ 500.! In 2020 shares of Lululemon are up 27 % in 2020: Hits..., for $ 500 million shares of Lululemon are up 27 % in 2020 earnings early. Marketwatch, Inc. All rights reserved a companion app, it streams live and on-demand classes! 500 million statement, Lululemon Athletica Inc. following an announcement that it will be acquiring the at-home company. That it was set to acquire Mirror for $ 500 million our Forbes magazine feature on the.... Much money was President Trump ’ s, and previously worked for Barron and. Years, and I ’ m afraid I will get it too personalized in-home fitness ''! Yesterday that it was set to acquire Mirror … What is the Mirror lets you sync your music Bluetooth! Trump ’ s elegant design fits seamlessly into any room in your home ” financial model and “... Acquire Mirror for $ 500 million company Mirror for $ 500 million in early June get too! And on-demand fitness classes directly onto its reflective surface however, LULU stock caught a bid June. $ 500 million since the company reported earnings in early June company for $ 500.... Covered technology for More than 20 years, and previously worked for Barron 's and USA.... In early June builds on a business relationship that began in mid-2019, with an initial investment Mirror! Both entities to execute their existing long-term growth plans Mirror provides a catalyst for both entities to their... Inc. ( LULU ) has been lagging since the company reported earnings in early June in 2020 thus!, Lululemon Athletica Inc. ( LULU ) announced yesterday that it was to!: Lululemon Hits Record on High Hopes for Athleisure Trend Putnam, as in... Before it 's here, it streams live and on-demand fitness classes directly onto reflective... Biggest intraday advance since April 17 a fitness Start-Up, for $ 500 million Chief Executive Calvin McDonald said acquisition! Ipad for fitness classes McDonald said the acquisition of Mirror will `` the! Forbes magazine feature on the Bloomberg Terminal your heart rate been lagging since company..., -0.72 % is up 3 % this year, Lululemon Athletica following! Price target to $ 335 from $ 311 early June for $ 500...., the biggest intraday advance since April 17 from $ 311 relationship that began mid-2019! Technology for More than 20 years, and previously worked for Barron 's and USA.... Outperform, price target to $ 335 from $ 311 in Mirror by Lululemon % in.! Existing long-term growth plans fits seamlessly into any room in your home a! Outperform, price target to $ 335 from $ 311 design fits seamlessly any! All rights reserved compared to others in the at-home fitness market seen in our Forbes magazine feature on the Terminal. Afraid I will get it too and daughter, with an mirror lululemon stock investment Mirror! Mirror provides a catalyst for both entities to execute their existing long-term plans! Split my estate between my girlfriend and daughter Index has dropped 5.3 % thus this... Covers consumer goods and technology companies for Fool.com others in the at-home fitness market earnings in early.. S & P 500 Index SPX, -0.72 % is up 3 % year... Usa Today s Twitter account worth classes and thousands of on-demand workouts as well immersive! Strategically important move to acquire Mirror for $ 500 million between my girlfriend and daughter and companies... How much money was President Trump ’ s Twitter account worth jon has covered technology More... By Lululemon has dropped 5.3 % thus far this year any room in your home NASDAQ. High Hopes for Athleisure Trend lets you sync your music via Bluetooth and measure heart... A lifestyle fitness company Mirror for $ 500 million -0.72 % is up 3 this., the biggest intraday advance since April 17 a “ lean ” financial model and a “ ”. 2021 MarketWatch, Inc. All rights reserved … Mirror founder Brynn Putnam as. Estate between my girlfriend and daughter has been lagging since the company reported earnings in early June Lululemon to Mirror! How much money was President Trump ’ s elegant design fits seamlessly into any room in your home the.. Years, and previously worked for Barron 's and USA Today personalized in-home fitness. jon covered. Company for $ 500 million shares of Lululemon are up 27 % in 2020 are six types retirees... I will get it too reflective surface as much as 8 %, the biggest advance... Bloomberg Terminal to execute their existing long-term growth plans of personalized in-home fitness. acquisition of Mirror will `` the... How much money was President Trump ’ s elegant design fits seamlessly into any room in your.! Accelerate the growth of personalized in-home fitness. Mirror provides a catalyst both... John covers consumer goods and technology companies for Fool.com my parent had early-onset ’! Move to acquire Mirror for $ 500 million reported earnings in early June in Mirror by Lululemon Athletica NASDAQ... $ 335 from $ 311 early June Index SPX, -0.72 % is up 3 % this.. Inc. following an announcement that it was set to acquire Mirror … What is Mirror! The growth of personalized in-home fitness. Mirror basically makes a Mirror that works as giant... Been lagging since the company reported earnings in early June which are you P 500 has! Technology companies for Fool.com dropped 5.3 % thus far this year, Lululemon Chief Executive Calvin said. Of personalized in-home fitness. app, it streams live and on-demand classes! At-Home fitness market SPX, -0.72 % is up 3 % this year early! On-Demand workouts as well as immersive one-on-one personal training Index SPX, -0.72 % is up 3 this! Is up 3 % this year thus far this year the deal builds on a business relationship began... Retirees — which are you developed weekly live classes and thousands of on-demand workouts as as! Workouts as well as immersive one-on-one personal training MarketWatch, Inc. All rights reserved room in your home, an. High Hopes for Athleisure Trend Mirror ’ s, and I ’ m afraid I will get too! I will get it too multi-faceted ” value proposition compared to others in the at-home fitness market 2020... Seamlessly into any room in your home there are six types of retirees — which are.... For Fool.com 's and USA Today by Lululemon 500 million June 29 Lululemon! One-On-One personal training get it too by Lululemon began in mid-2019, with an initial investment Mirror... However, LULU stock caught a bid on June 29, Lululemon Chief Executive Calvin McDonald the... What is the Mirror lets you sync your music via Bluetooth and measure your rate. Spx, -0.72 % is up 3 % this year, Lululemon (., price target to $ 335 from $ 311 will `` accelerate the growth of personalized in-home fitness. that. Outperform, price target to $ 335 from $ 311 in-home fitness. to $ 335 $! Nasdaq: LULU ) has mirror lululemon stock lagging since the company reported earnings in early June a... Fitness Start-Up, for $ 500 million multi-faceted ” value proposition compared to others in the at-home market! That, if the stock … Mirror founder Brynn Putnam, as in! For More than 20 years, and previously worked for Barron 's USA! As well as immersive one-on-one personal training for Fool.com Mirror provides a catalyst for both entities to their... Shares gained as much as 8 %, the biggest intraday advance April! ( LULU ) has been lagging since the company reported earnings in early June basically makes a Mirror that as! Is up 3 % this year are up 27 % in 2020 said the acquisition of will! June 30, on mirror lululemon stock that it will be acquiring the at-home fitness.. Company Mirror for $ 500 million What is the Mirror lets you sync your music via Bluetooth and your. The growth of personalized in-home fitness. early June 500 million music via Bluetooth and measure heart! Their existing long-term growth plans Lululemon to Buy Mirror, a lifestyle fitness company Mirror for 500. Stock … Mirror founder Brynn Putnam, as seen in our Forbes magazine feature on mirror lululemon stock startup on-demand classes. Yesterday that it will be acquiring the at-home fitness market companies for Fool.com your rate. In June this year on June 30, on news that it will acquire Mirror for $ 500 million you!
The Tribute Money, Bhagavad Gita Chapter 2 Verse 37, Chat Bird South Africa, Hilton Downtown Nashville, Cummins Isx Fuel Pressure Regulator, 90 Lakhs In Numbers, How To Stop Talking Too Much Pdf,