Lululemon is buying exercise hardware startup Mirror for half a billion dollars
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Lululemon, the company behind trendy fitness apparel, is getting into the hardware business with Mirror. The fitness lifestyle company announced on Monday it would spend $500 million to acquire the startup, which sells a $1,495 reflective display so subscribers can exercise while simultaneously streaming workouts and watching themselves.
The apparel company’s CEO Calvin McDonald tells The New York Times the purchase is about “strengthening our community and our loyalty and our relationship with our guests and memberships.” He also noted that Mirror comes with its own revenue model, which he and the team are “excited about.”
The Times says Mirror expects to bring in over…