GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window
FIBO Exhibition
FIBO Exhibition
FIBO Exhibition
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn Follow Health Club Management on Instagram
UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Mirror sells to Lululemon for US$500m

Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m).

Mirror is an interactive workout platform which provides live and on-demand fitness classes – as well as personal training – in a variety of workout genres.

At the core of the Mirror concept is a reflective display which retails at US$1,495, allowing subscribers to access the online exercise sessions.

Marketed as an interactive home gym – and seen as a challenger to the wildly popular indoor cycling operators such as Peloton – Mirror was founded by Brynn Putnam, creator of Refine Method.

The deal comes as the COVID-19 lockdowns have caused an explosion in demand for at-home fitness globally – a market that Lululemon now wants to tap into.

"In 2019, we detailed our vision to be the experiential brand that ignites a community of people living the sweatlife through sweat, grow and connect," said Calvin McDonald, Lululemon CEO.

"The acquisition of Mirror is an exciting opportunity to build upon that vision, enhance our digital and interactive capabilities, and deepen our roots in the sweatlife.

"We look forward to learning from and working with Brynn Putnam and the team at Mirror to accelerate the growth of personalized in-home fitness.”

The purchase price of US$500m is expected to be paid from the company’s primary sources of liquidity, which include over $800m in cash, its existing $400m revolving credit facility, and a new one-year, $300m revolving credit facility.

Following the completion of the transaction, which is expected to take place over the next months, MIRROR will operate as a standalone company within Lululemon.

Brynn Putnam will continue as Mirror’s CEO, reporting to McDonald.

Commenting on the deal, Putnam said: “As part of Lululemon, Mirror can further strengthen its position and accelerate its growth by leveraging Lululemon’s deep relationships with its guests, ambassadors and communities, as well as the company’s infrastructure, including its store network and e-commerce channels, to acquire new users.”

The deal builds on an existing partnership between the two companies, which began in with Lululemon making an initial investment in Mirror. The firms also have a content partnership, which includes Lululemon providing sweat and meditation classes to the Mirror platform.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m).
HAF,TEC
2020/THUMB345805_837162_24184.jpg
Latest News
People with depression should be prescribed exercise and then monitored for the first 12 weeks ...
Latest News
Frequent strenuous exercise increases the risk of developing motor neurone disease (MND) in people with ...
Latest News
The UK government has extended the ban on commercial evictions until 25 March 2022. Announcing ...
Latest News
Operating a further four weeks at reduced capacity will place serious pressure on English fitness ...
Latest News
People experiencing homelessness are being offered free access to leisure centres by Oxford City Council. ...
Latest News
IHRSA has appointed Elizabeth Clark as its new president and CEO. Clark joins the industry ...
Latest News
Boutique studio operator TRIB3 has launched its own-brand range of luxury toiletries. The operator, which ...
Latest News
Rainer Schaller's RSG Group is bringing its John Reed brand of health clubs to the ...
HCM Magazine
Strength
CV kit has been fully connective for some time, but with the rise of the hybrid gym goer, what are strength suppliers doing to meet the demand for a fully connected offer?
HCM Magazine
Sponsored
Come join the party!
HCM Magazine
Research
Physical activity gives structure and meaning to people’s lives, according to new research
HCM Magazine
Supplier showcase
Safe Space Lockers has extended its partnership with boutique fitness franchise TRIB3, in a new 10-site supplier agreement, following the recent installation at TRIB3 Edinburgh
HCM Magazine
Sponsored
Daniel Jones is the brains behind Orbit4, the world’s first digital ecosystem to manage and facilitate the entire commercial fitness product cycle. We caught up with him at Orbit4 HQ in Cheshire
HCM Magazine
Opinion
Moving Communities is our chance to demonstrate our value and develop a universal service for all, argues Martyn Allison
HCM Magazine
Talking Point
Consumer research has shown a population-wide surge in interest in reducing lockdown weight gain and getting fitter. Is the industry ready and willing to put its hand up to help people with weight loss? Kath Hudson reports
HCM Magazine
HCM magazine
As our sector starts to recover, there will be changes in the needs of communities, consumers and the provision of opportunities. To explore this subject we hosted a virtual round table to better understand views on key workforce questions
HCM magazine
HCM People

Ben Alderton

Founder, Solo 60
We see a world where every major city has access to Solo 60
HCM magazine
As the industry enters a phase of regrowth following the loss of members during lockdown, it’s crucial to understand customer acquisition cost versus the lifetime value of each customer, as Paul Bedford and Jamie Owens explain
Opinion
promotion
While much of the fitness industry has reopened its doors across the UK over the past weeks, many members are yet to return.
Opinion: Re-engaging your post-lockdown absent members
Featured supplier news
Featured supplier news: Cryotherapy specialists, L&R Kältetechnik, launch new artofcryo.com division
L&R Kältetechnik has launched a new division, named artofcryo.com, after 30 years’ experience with -110 °C electrical solutions.
Featured supplier news
Featured supplier news: First digital ecosystem for fitness equipment is launched after £300,000 funding boost
Orbit4 is the first digital ecosystem that manages and facilitates the entire commercial fitness product cycle.
Featured operators news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Featured operators news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Company profiles
Company profile: Gympass
On a mission to defeat inactivity, Gympass is a corporate wellness solution that builds mutually ...
Company profiles
Company profile: Myzone
Myzone is an innovative heart rate monitor and community engagement tool to track physical activity ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Exercise equipment
Matrix Fitness: Exercise equipment
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Architects/designers
Zynk Design Consultants: Architects/designers
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Salt therapy products
Himalayan Source: Salt therapy products
Uniforms
Service Sport: Uniforms
Fitness equipment
Octane Fitness: Fitness equipment
Wearable technology solutions
MyZone: Wearable technology solutions
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
01-04 Jul 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
28-29 Sep 2021
ExCeL London, London, United Kingdom
Diary dates
04-07 Nov 2021
Exhibition Centre , Cologne, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Mirror sells to Lululemon for US$500m

Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m).

Mirror is an interactive workout platform which provides live and on-demand fitness classes – as well as personal training – in a variety of workout genres.

At the core of the Mirror concept is a reflective display which retails at US$1,495, allowing subscribers to access the online exercise sessions.

Marketed as an interactive home gym – and seen as a challenger to the wildly popular indoor cycling operators such as Peloton – Mirror was founded by Brynn Putnam, creator of Refine Method.

The deal comes as the COVID-19 lockdowns have caused an explosion in demand for at-home fitness globally – a market that Lululemon now wants to tap into.

"In 2019, we detailed our vision to be the experiential brand that ignites a community of people living the sweatlife through sweat, grow and connect," said Calvin McDonald, Lululemon CEO.

"The acquisition of Mirror is an exciting opportunity to build upon that vision, enhance our digital and interactive capabilities, and deepen our roots in the sweatlife.

"We look forward to learning from and working with Brynn Putnam and the team at Mirror to accelerate the growth of personalized in-home fitness.”

The purchase price of US$500m is expected to be paid from the company’s primary sources of liquidity, which include over $800m in cash, its existing $400m revolving credit facility, and a new one-year, $300m revolving credit facility.

Following the completion of the transaction, which is expected to take place over the next months, MIRROR will operate as a standalone company within Lululemon.

Brynn Putnam will continue as Mirror’s CEO, reporting to McDonald.

Commenting on the deal, Putnam said: “As part of Lululemon, Mirror can further strengthen its position and accelerate its growth by leveraging Lululemon’s deep relationships with its guests, ambassadors and communities, as well as the company’s infrastructure, including its store network and e-commerce channels, to acquire new users.”

The deal builds on an existing partnership between the two companies, which began in with Lululemon making an initial investment in Mirror. The firms also have a content partnership, which includes Lululemon providing sweat and meditation classes to the Mirror platform.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m).
HAF,TEC
2020/THUMB345805_837162_24184.jpg

News

People with depression should be prescribed exercise and then monitored for the first 12 weeks
Frequent strenuous exercise increases the risk of developing motor neurone disease (MND) in people with
The UK government has extended the ban on commercial evictions until 25 March 2022. Announcing
Operating a further four weeks at reduced capacity will place serious pressure on English fitness
People experiencing homelessness are being offered free access to leisure centres by Oxford City Council.
IHRSA has appointed Elizabeth Clark as its new president and CEO. Clark joins the industry
FIBO Exhibition
FIBO Exhibition
Orbit4 is the first digital ecosystem that manages and facilitates the entire commercial fitness product
Boutique studio operator TRIB3 has launched its own-brand range of luxury toiletries. The operator, which
Rainer Schaller's RSG Group is bringing its John Reed brand of health clubs to the
The government needs to urgently set out its plans to support physical activity and fitness
Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time,
A £30m luxury leisure development scheme which has been more than a decade in the
Crown Sport Lockers (UK) Ltd
Crown Sport Lockers (UK) Ltd
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company
Gymbox has signed a partnership agreement to provide members of flexible workspace provider WeWork with
The number of health club members returning to gyms since lockdown has beaten all expectations,
The Jumeirah Group has reopened the 186-room The Carlton Tower Jumeirah, in the heart of
David Lloyd Clubs has enrolled former Labour Party deputy leader Tom Watson to help raise
fibodo Limited
fibodo Limited
You’re pumped and ready for your workout. Then you see it, the dreaded ‘out of
TRIB3 has secured a franchise deal which will see it open 20 studios across Belgium,
ukactive has published new data from the National ReferAll Database (NRD) – the UK’s first
Miha Bodytec GmbH
Miha Bodytec GmbH
1 - 20 of 11,921
HCM Magazine
Strength
CV kit has been fully connective for some time, but with the rise of the hybrid gym goer, what are strength suppliers doing to meet the demand for a fully connected offer?
HCM Magazine
Sponsored
Come join the party!
HCM Magazine
Research
Physical activity gives structure and meaning to people’s lives, according to new research
HCM Magazine
Supplier showcase
Safe Space Lockers has extended its partnership with boutique fitness franchise TRIB3, in a new 10-site supplier agreement, following the recent installation at TRIB3 Edinburgh
HCM Magazine
Sponsored
Daniel Jones is the brains behind Orbit4, the world’s first digital ecosystem to manage and facilitate the entire commercial fitness product cycle. We caught up with him at Orbit4 HQ in Cheshire
HCM Magazine
Opinion
Moving Communities is our chance to demonstrate our value and develop a universal service for all, argues Martyn Allison
HCM Magazine
Talking Point
Consumer research has shown a population-wide surge in interest in reducing lockdown weight gain and getting fitter. Is the industry ready and willing to put its hand up to help people with weight loss? Kath Hudson reports
HCM Magazine
HCM magazine
As our sector starts to recover, there will be changes in the needs of communities, consumers and the provision of opportunities. To explore this subject we hosted a virtual round table to better understand views on key workforce questions
HCM magazine
HCM People

Ben Alderton

Founder, Solo 60
We see a world where every major city has access to Solo 60
HCM magazine
As the industry enters a phase of regrowth following the loss of members during lockdown, it’s crucial to understand customer acquisition cost versus the lifetime value of each customer, as Paul Bedford and Jamie Owens explain
HCM magazine
HCM people

Andy McGlynn

Founder, GSquared
Once we grow beyond Manchester we’ll go head to head with Equinox and Third Space
HCM magazine
Aneurin Leisure Trust used lockdown to transform and digitise its gyms, ready for reopening
HCM magazine
Choosing the right flooring is critical for gym and health club operators. Suppliers share their latest news, tips and product launches to help you choose wisely
HCM magazine
An ongoing partnership between Active Leeds and Hussle has created exciting results in the form of increased usage and memberships
HCM magazine
We’re about to launch Thrive, a class-leading co-living platform and we’ll continue our growth by developing world-class branded hotels. We love to explore anything that has a roof
HCM magazine
The industry can be the catalyst for recovery from the pandemic, as well as addressing many of the underlying issues which enabled COVID-19 to wreak such havoc
HCM magazine
Opinion
promotion
While much of the fitness industry has reopened its doors across the UK over the past weeks, many members are yet to return.
Opinion: Re-engaging your post-lockdown absent members
Featured supplier news
Featured supplier news: Cryotherapy specialists, L&R Kältetechnik, launch new artofcryo.com division
L&R Kältetechnik has launched a new division, named artofcryo.com, after 30 years’ experience with -110 °C electrical solutions.
Featured supplier news
Featured supplier news: First digital ecosystem for fitness equipment is launched after £300,000 funding boost
Orbit4 is the first digital ecosystem that manages and facilitates the entire commercial fitness product cycle.
Featured operators news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Featured operators news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Company profiles
Company profile: Gympass
On a mission to defeat inactivity, Gympass is a corporate wellness solution that builds mutually ...
Company profiles
Company profile: Myzone
Myzone is an innovative heart rate monitor and community engagement tool to track physical activity ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Exercise equipment
Matrix Fitness: Exercise equipment
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Architects/designers
Zynk Design Consultants: Architects/designers
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Salt therapy products
Himalayan Source: Salt therapy products
Uniforms
Service Sport: Uniforms
Fitness equipment
Octane Fitness: Fitness equipment
Wearable technology solutions
MyZone: Wearable technology solutions
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
01-04 Jul 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
28-29 Sep 2021
ExCeL London, London, United Kingdom
Diary dates
04-07 Nov 2021
Exhibition Centre , Cologne, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
Search news, features & products:
Find a supplier:
FIBO Exhibition
FIBO Exhibition