Athletic apparel maker Lululemon Athletica
Inc. said it’s acquiring at-home exercise startup
Mirror for $500 million.
The deal is part of Lululemon’s plan to expand
beyond just selling yoga tights and other
workout clothing.
“The acquisition of Mirror is an exciting
opportunity to build upon that vision, enhance
our digital and interactive capabilities, and
deepen our roots in the sweat life,” Lululemon
CEO Calvin McDonald said in a statement.
The move also comes as Americans have been
forced by gym closures to work out at home
during the pandemic. And even as some gyms
have reopened with new safety protocols,
many customers are still not willing to go back
because of worries about catching the virus.