wellness

Here's Why Lululemon Invested in Fitness Start-Up Mirror

Both companies' customers check themselves out in the mirror.
article cover

@getthemirror

less than 3 min read

Retail news that keeps industry pros in the know

Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.

Mirror, the fitness startup that brings boutique fitness classes home with high-tech mirrors, raised roughly $34 million in a new funding round led by Point72 Ventures. Lululemon chipped in for an undisclosed amount and became one of Mirror’s minority owners.

Why’s Lululemon funding Mirror? Their audiences meet at the center of a fitspo Venn Diagram. Both brands’ customers love 1) working out and 2) staring at the results of their workouts in the mirror.

And it comes back to the e-word. Lululemon’s already big on adding fitness experiences to its existing stores. An investment in Mirror is an investment in bringing those experiences into Lulu customers’ homes. Sure enough, Mirror Co-founder and CEO Brynn Putnam told the Brew that Lululemon ambassadors will soon lead limited-edition Mirror classes.

Putnam says that Mirrors were sold in all 48 contiguous U.S. states within two months of launch and average over two users per household. Now, Mirror's chasing even more growth.

  • The WSJ reports that Mirror plans to use its new funds to open additional stores (it currently has a single shop in NYC) and bump up its class offerings.
  • Down the line, it’s hoping to enter new categories like fashion and telemedicine.

My crystal ball says...select Lululemon stores, like its Chicago flagship, could become Mirror outposts as well.

Retail news that keeps industry pros in the know

Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.

R
B