Lululemon at 500 million to buy a home fitness startup mirror

Lululemon at 500 million to buy a home fitness startup mirror
Adam D. Crook
Written by Adam D. Crook

The company said Monday it has signed a deal to buy home exercise startup Mirror for $ 500 million. Early Sells an immersive mirror where users can participate in fitness classes and personal training sessions.

Lululemon CEO Calvin McDonald said in a statement that the company looks forward to working with Mirror to “accelerate the growth of fitness in a personalized home.”

Mirror, launched in September 2018 and raised $ 72 million from investors including Lululemon The fitness landscape By making it easy for anyone to take direct or on-demand interactive exercise classes from the comfort of their home with a substantial price tag. Before the tax and installation fees, the Mirror costs approximately $ 1,500, plus an ongoing subscription fee of $ 39 (up to six at home) to access its on-demand or live classes. Personal training sessions run for an additional $ 40.

When taking classes such as cardio workouts, yoga and boxing, users can see key metrics such as their heart rate-per-minute (or BPM) and calories burned. Controlled by the app on your phone, the device comes with fitness bands, a stand and a Bluetooth heart rate monitor.

In a conversation shortly before Peloton went public last autumn, Mirror founder and CEO Brian Putnam told CNN Business that his company was taking a “different approach to competition.”

Putnam explained that she is building a product that can bend when trends change. The Mirror wants to become “the third screen of your life.” In other words, it is more about the ability to easily connect with users in their homes than about a specific app.

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Putnam, a former dancer for New York City Ballet, opened a boutique fitness studio in 2010 inside a church in Manhattan. The studio’s components, called the Refine Method, focus on full-body, high-intensity interval training. This was a place Putnam could afford, but she had to install custom-built equipment that could be removed weekly for her Sunday morning services and rebuilt a short time later.

The idea for Putnam Mirror came after a pregnant entrepreneur struggled to fit workout classes into her schedule. At the same time, she noticed that customers in the refine method love working with mirrors. She tried to combine the two concepts.

Putnam told CNN Business last fall that the startup is expected to expand into other aspects of life, including health, fashion and beauty. “Fitness is one of the most content experiences at home,” she said at the time.

Startup has partnered with Lululemon to start expanding its content. After investing in Lululemon, the two companies brought together meditation classes on stage Early last year.

Lululemon said that Lotter operates as an independent company and, as CEO of Putnam, will report to McDonald’s after the transaction is completed.

About the author

Adam D. Crook

Adam D. Crook

Adam is a charismatic science communicator respected for his deep understanding of US S&T system. "New Frontiers in Science & Development' is the online platform he contributes to actively in addition to Science and Getty Images. He has won many national and international awards for his work. Explaining complexities of science in a simple language is his forte. He has extensive experience in reporting about the United State atomic energy program.
His pioneering work show casing US’s maiden mission to Mars and Moon has been applauded this aired in English for Television. In his two decades of writing for the prestigious American weekly Science, his stories have highlighted.

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