Lululemon Athletica is considering a sale of Mirror.
The move comes as the athletic apparel retailer pivots toward a digital app-based home fitness strategy.
- Lululemon acquired fitness equipment maker Mirror for $500M in 2020.
- The retailer is working with an adviser to solicit interest in Mirror, reports Bloomberg citing anonymous sources.
- Lululemon is pivoting its home fitness business toward Lululemon Studio, a rebranded digital and app-based product.
- "We are shifting the focus of Lululemon Studio from a hardware-centric offering," said CEO Calvin McDonald.
- He noted that the fitness app is scheduled to launch this summer.
- Lululemon sustained $442.7M in impairment charges related to Mirror in Q4.
