After focusing on software for years, Apple’s muckety-mucks presumably decided they were due for another winner. So the big question is, how much is the mirror workout? The company’s stock price rose 4% in the after-hours of trading on Monday. Brynn Putnam, Mirror’s founder and chief executive, will retain her role and report to Mr. McDonald. Please fill out this field with valid email address. Jefferies’ Randal Konik wrote, “We like Lululemon’s acquisition of Mirror, but we point out that it is being purchased at the peak of the at-home fitness mania. 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. For the time being, let us rejoice and be glad that we can finally watch HBO Max in peace. These hybrid transportation have exploded in popularity since the pandemic, as they allow the otherwise homebound to move around outside for some fresh air. 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. Mirror's $100 million in projected revenue for this year would represent just 2.5% of Lululemon's expected sales in the same period. At Refinery29, we’re here to help you navigate this overwhelming world of stuff. The Lululemon Mirror is just the latest example of wellness technology designed to capture any and all information about its users. The Wall Street Journal recently ran a feature on the growing practice of hypnosis via Amazon Alexa devices. 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. 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. But don't sleep on it: I have a feeling this pick won't be in sale (or in stock) for much longer. 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. The company’s stock price rose 4% in the after-hours of trading on Monday. Included in the $39/mo MIRROR Membership required with The Mirror purchase. All of our market picks are independently selected and curated by the editorial team. Who knows, maybe I will even get an Apple Car one day. This makes them much easier to operate than a regular bike, which despite the old adage, you very much can forget how to ride. This isn’t only happening in the media, but on social media too. Once the deal closes, Mirror will operate as a standalone company within Lululemon, which is based in Vancouver, British Columbia. After the deal closes, Mirror will continue to operate as a stand-alone company within Lululemon. 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. Mirror, which launched in 2018, sells a $1,500 interactive mirror that streams live and on-demand workout classes. Connected Home. In an incredibly challenging year, Soles4Souls has continued to create sustainable jobs and provide relief in 2020. Want to read more articles like this one? 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. That particular athleisure company, actually: Lululemon, which first made a small $1 million equity investment in Mirror in 2019. 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. Like everyone else, I’ve seen […] Will it be self-driving? This marks Lululemon’s first acquisition. Wall Street analysts subsequently issued buy and overweight ratings on the company, whose stock traded up 5.7% to $311 at Tuesday’s market open. 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. 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. Shares for Lululemon are up about 33.5% in the year to date. Meet MIRROR. When HBO Max launched last June, I liked its offerings but was disappointed that there was practically no way to watch it. 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. Wrong. Although Christopher Nolan called it “the worst streaming service,” it actually has some good content, but since it was not accessibly from any streaming device, viewers were stuck either watching it on their laptops or else purchasing an upgraded Samsung Smart TV. 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. Is there a market for this? But Roku? 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. They are also frequently used by delivery drivers, which has abetted the speed of takeout service in metropolitan areas. Until recently, many people (myself included) had thought the term referred to Pelotons and other stationary bicycles. 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. You can bring your own Mirror home for $1,495 USD. Mirror is expected to become profitable by next year, excluding deal costs, Lululemon said. All rights reserved. The … Maybe this is a good thing, leading to a healthier populace. I have yet to use an e-bike, but they simply seem more fun than their analogue counterparts. Key Points Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday. Lululemon, Mirror, & ALL The 2021 Deals On Fitness Favorites. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. My family ended up doing the latter, and we have no complaints at all with our new 55″ screen. In other words, Roku is getting into the content business. The new iPad Pro might be a better target: New Apple iPad Pro (11-inch, Wi-Fi, 128GB) – Silver (2nd Generation) — $794. Lululemon expects the deal to close … It also offers one-on-one personal training services. Our long national nightmare is over. Lululemon declined to say how much Mirror made in 2019 or disclose user metrics. Lululemon Is Buying Mirror. 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. Supposedly, Apple Cars will be using a “monocell” battery, allowing them to beat the market’s other electric vehicles on price. This acquisition of Mirror is an extension of this thought process, and the timing could not be more perfect. While Lululemon hasn’t started selling products directly through Mirror yet, “shoppable content” is “certainly on our radar” too, says Putnam. Even before at-home fitness became most people's new normal, Mirror was an … Apple had devoted all of its R&D capabilities. Right before the New Year, we ran an article taking a look at some of the fitness options for keeping in shape in the midst of a pandemic. These are way cooler than the electric scooters that became a fad in summer 2019. (For those folks who do still value privacy, Lululemon insists that turning on the camera is merely “an option.”). One option we did not touch on is the Lululemon Mirror, mostly because I did not believe it was a real thing. For now, the deal seems to be clicking. 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. Is there a market for this? “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.”. What Does MKBHD Think About The Tesla CyberTruck? With Amazon, the answer is obvious. That timeline seems both ambitious, considering no one knew they were even still working on them, as well as rather far off into the future. This idea is well-summarized by … WordPress.com VIP. Good thing, too, since you are going to see a lot more of them on the street after people unwrap their presents on Christmas Day. Roku will play those Quibi shows on its devices for free. Your Kid Wants Squeakee The Balloon Dog For Christmas, Take A Load Off With The oFlexiSpa Foot Massager. 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. Instead, it’s using Mirror as a new direct sales channel into the homes of millions of active customers. Why That’s a Smart Move. 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. Putnam will remain as CEO, reporting to Lululemon CEO Calvin McDonald, who Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. The … “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. Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million. It has a market capitalization of $40.5 billion. 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. The deal is expected to close within one to two weeks. There must be, considering Lululemon bought the start-up responsible for the device for $500 million. Right before the New Year, we ran an article taking a look at some of the fitness options for keeping in shape in the midst of a pandemic. Analysts are bullish on Lululemon Athletica Inc. following an announcement that it was set to acquire Mirror for $500 million. Amazon competes with HBO via its own streaming service, Amazon Prime, and so it was always going to be a tough negotiation. The announcement about Lululemon’s intent to acquire MIRROR improved investors’ sentiments. Lululemon has one of the best owned-distribution platforms in the world. As mentioned, it’s a lifestyle. The Motley Fool recommends Lululemon Athletica and recommends the … The Mirror exists, and it is a sign of the times. How much is it? Think about how much faster you can go! The Mirror gym is typically sold for $1,495; however, Amazon's selling it for $100 less. 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. Buzzy exercise startup Mirror agreed to sell to Lululemon, the yoga clothing brand, for $500 million today. Measuring a tad over 5 feet, 4 inches with the stand, it’s about the same size as a full length mirror. That particular athleisure company, actually: Lululemon, which first made a small $1 million equity investment in Mirror in 2019. (Mirror was purchased by Lululemon last year, and the device features prominently on the Lululemon website.) Like everyone else, I’ve seen the many ads touting this Bradburyesque contraption over the last couple months. How Much Does Mirror Workout Cost? With this month’s news that Uber was abandoning its own self-driving car ambitions, the future of that technology seemed in doubt. ... (Mirror offers 12-, 24-, and 36-month financing plans.) 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+. Lululemon announced during its fiscal second-quarter earnings report that it is on track to begin offering Mirror products in 10 to 15 Lululemon stores in the U.S. just in time for holiday shopping. After the deal closes, Mirror will continue to operate as a stand-alone company within Lululemon. 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. All-new Echo (4th Gen) | With premium sound, smart home hub, and Alexa | Charcoal — $99.99. But don't sleep on it: I have a feeling this pick won't be in sale (or in stock) for much longer. Lululemon should be praised for this strategic acquisition – or at least see a price bump for its efforts. New Apple Watch Series 6 (GPS + Cellular, 40mm) – Graphite Stainless Steel Case with Black Sport Band — $699. Your email address will not be published. If you buy something we link to on our site, Refinery29 may earn commission. 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. Different installment payment plans are available—check them out on MIRROR’s website here . “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, the company behind trendy fitness apparel, is getting into the hardware business with Mirror. 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. The announcement about Lululemon’s intent to acquire MIRROR improved investors’ sentiments. If you think back to four years ago, people thought that we’d have whole fleets of self-driving taxis by now. Looking For An Alternative To The Always Pan? (Putnam will continue as Mirror’s CEO, reporting directly to McDonald.). 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. 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. Cross-Sell Mirror into lululemon. "The first thing most people say when they see the Mirror is, 'This is the future,'" Putnam said. What took so long? If people are willing to bare their souls to a miniature robot, who am I to tell them off? He said Mirror will be profitable as soon as next year and while it’s currently only available in the U.S., Lululemon plans to offer Mirror internationally. It took many months, but you can now finally watch HBO Max on both Amazon Fire and Roku streaming sticks. You Can Now Watch Both HBO Max & Quibi On Roku, The Lululemon Mirror Is The Latest In Dystopian Tech, Admit It, You Are Going To Get The AirPods Max, George Clooney Cuts His Own Hair With A Flowbee, And I Have Questions, This Equipment Will Help You Shed Those COVID Pounds In The New Year, Sparking Interest in Chess, ‘The Queen’s Gambit’ Offers Hope, Andy Reid’s Shield Hat Is Actually Awesome, A Gravity Blanket (Or Cheaper Alternative) Can Dispel Anxiety, Easy-To-Sanitize Clear Backpacks Are Here To Stay, Close Out This Grinch Of A Year With This Holiday Cocktail. But since Google’s spinoff Waymo is progressing apace, Apple did not want to be left in the dust. S news that Uber was abandoning its own streaming service, Amazon,! Liked its offerings but was disappointed that there was practically no way to watch it, 'This is the is... The wrong hands, there is little doubt that it was a real thing there is little doubt it... 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