MIRROR Agrees to Sell to lululemon for $500 Million
San Francisco – June 30, 2020 – Cooley advised leading in-home fitness company MIRROR on its agreement to sell to lululemon athletica for $500 million. Lawyers Jamie Leigh, Anne Lieberman and Giselle Rivers led the Cooley team advising MIRROR.
MIRROR’s best-in-class content and versatile workout platform positions lululemon to accelerate its vision and build upon an ecosystem that will fuel its growth plan. MIRROR has seen rapid growth and strong engagement since launching in 2018, as the demand for in-home fitness offerings continues to increase significantly.
“We are thrilled to officially become a part of the lululemon family,” MIRROR founder and CEO Brynn Putnam said in a news release. “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 ecommerce channels, to acquire new users.”
The transaction builds on a successful partnership between the two companies, which began in mid-2019 with an initial investment in MIRROR by lululemon and includes a content partnership that brought sweat and meditation classes to the MIRROR platform by lululemon’s global ambassadors.
MIRROR is a nearly invisible, interactive home gym featuring live and on-demand fitness classes and personal training in a variety of workout genres. MIRROR is creating a new category of in-home fitness with cutting-edge hardware, responsive software and best-in-class content.
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