Lululemon Plans to Aggressively Grow the Mirror Brand in 2021
Interactive fitness has exploded over the last few years with Peloton Interactive doing a lot to popularize the concept. Last quarter, lululemon athletica (NASDAQ: LULU) got in the game with the $500 million acquisition of Mirror, a maker of premium digital workout displays, and it has big plans to begin growing the brand this holiday season.
While Mirror is small with only $150 million in revenue expected for 2020, Lululemon will begin selling the device in a few stores by the end of the year before aggressively investing in growth starting in 2021. 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.
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Source Fool.com
