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have once paid a personal trainer at the gym to oversee.
The deal is expected to close in the second quarter of the fiscal year. Lululemon took a small stake in Mirror last year.
Lululemon Chief Executive Officer Calvin McDonald said on CNBC that the acquisition was not motivated by boosting his company’s apparel sales but by the home gym product’s own potential. He said Mirror will be profitable as soon as next year and while it’s currently only available in the U.S., Lululemon plans to offer Mirror internationally.
Mirror’s trademark product, which looks like a standard full-length mirror when not in use, retails for $1,495. Shoppers can also pay in $42 a month installments.
The deal is expected to close in the second quarter of the fiscal year. Lululemon took a small stake in Mirror last year.
Lululemon Chief Executive Officer Calvin McDonald said on CNBC that the acquisition was not motivated by boosting his company’s apparel sales but by the home gym product’s own potential. He said Mirror will be profitable as soon as next year and while it’s currently only available in the U.S., Lululemon plans to offer Mirror internationally.
Mirror’s trademark product, which looks like a standard full-length mirror when not in use, retails for $1,495. Shoppers can also pay in $42 a month installments.