• Loading stock data...
Thursday, July 18, 2024
Join us this September for Tuned In Request to Attend

Lululemon Explores Mirror Sale in Pivot from Fitness Hardware

  • Lululemon bought Mirror for $500M in 2020 but says its hardware sales have since under-performed.
  • Mirror, mirror on the wall … will at-home fitness continue to fall?
Lululemon-Mirror
Lululemon

Lululemon could be looking to offload one of its biggest assets. 

Bloomberg reports that the activewear giant is working with an advisor to garner interest in Mirror, the at-home fitness equipment company it bought in 2020 for $500 million. 

Lululemon jumped on 2020’s pandemic-driven at-home fitness boom to buy Mirror — which makes an interactive screen for streaming workout videos. 

But in a March 2023 earnings call, the company admitted that “since our [Mirror] acquisition, the at-home fitness space has been challenging. While members love our content, hardware sales did not match our expectations.”

Lululemon’s year-over-year total revenue increased 30% to $2.8 billion in 2022, but the company took $443 million in impairment charges related to Mirror in the fourth quarter.

“We are pivoting away from the hardware-centric business that we acquired to also focus on a more efficient app-based model,” Lululemon said in its Q4 2022 earnings call. 

Mirror’s struggles are on par with other hardware-focused fitness companies as customers inch back toward pre-pandemic levels of gym visits. Peloton’s stock has dropped about 92% over the past two years, while Tonal’s valuation has decreased by about $1 billion since 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA’s Blockbuster Rights Deal Faces Uncertainty, Potential Legal Threats

League commissioner Adam Silver says many of the next steps are ‘out of my control.’

Pulling Back the Curtain on the NFL’s $25 Billion Revenue Dream

NFL teams received $402.3 million in payments from the league.

MLB’s Newest Power Couple: Skenes, Dunne Make Waves Beyond Diamond

The star Pirates rookie and his NIL influencer girlfriend turn heads at MLB’s All-Star Game.

Record Soccer Viewership in U.S. Despite Copa América’s Finish

The Euro 2024 final was Fox’s most-watched non–World Cup soccer broadcast ever.
podcast thumbnail mobile
Front Office Sports Today

Knicks’ Hart, Brunson Like New NBA Media Deals, Owner Disagrees

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
Peloton

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.
UBS estimates that pickleball injuries have cost Americans $377 million this year.
June 27, 2023

Pickleball Injuries Could Cost U.S. Nearly $400 Million Per Year

UBS estimates that pickleball injuries have cost Americans $377 million this year.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
June 1, 2023

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
The huupe "smart" basketball hoop in a gym.
May 23, 2023

Can Basketball Hoops Become Part of the Smart Gym Ecosystem?

Huupe is selling its product to professional and college basketball teams.