Lululemon considers selling its fitness unit, Mirror.
Originally Published 2 years ago — by CNBC
Lululemon is reportedly looking to sell its at-home fitness business, Mirror, and has approached competitor Hydrow as a potential buyer. The fitness startup was acquired by Lululemon for $500 million in June 2020, but has since been weighing on the company's balance sheet. Lululemon has acknowledged the challenges in the at-home fitness market and has begun pivoting the segment away from being hardware-focused. The company plans to launch a new digital fitness app in the summer that will allow consumers to access digital fitness content without hardware and at a lower price point than its current subscription package.