What’s Next For Lululemon’s Tech Ambitions?
Lululemon executives mentioned Mirror 30 times in its latest quarterly earnings call. Enthusiasm over the technology isn’t a big surprise — in June 2020, Lululemon made a big play by acquiring the at-home fitness company. It seemed to be a natural next step forward. Only a year earlier, the retailer joined in a $34 million Mirror investment round. The timing for such an investment seemed ripe. The U.S. was a few months into a pandemic where everyone was stuck at home, locked out of events, gyms, and exercise classes. Instead, people were turning to retailers to purchase workout equipment and signing up for streaming services where fitness gurus were only an app away. The demand was so high that Peloton ran into supply chain constraints, and there was even a dumbbell shortage. Read more at Retail Dive.