Athletic apparel company Lululemon acquires smart home fitness startup Mirror for $500 million

July 02, 2020
Investment More...
by Jerrold Wang
Very important

Mirror's product provides workout video streams and real-time personalized in-workout adjustments based on the consumer's goals, profile, preferences, and heart rate detected from a smartwatch. We see at least three reasons behind this deal. First, real-time consumer engagement and service personalization deliver more value than the incumbent nondigital solutions. Second, home fitness is growing fast due to hygiene concerns about gyms during and after COVID-19. Third, Lululemon can use Mirror to lower consumer acquisition costs because the two companies target similar consumers. Clients interested in smart products serving personal well-being should learn from this acquisition and monitor IoT startups for collaboration and investment.

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