Mirror

History

2020: Sale to the company for $0.5 billion

On June 29, 2020 the Canadian Lululemon company which specializes in production of sportswear declared acquisition of the producer of fitness mirrors Mirror officially. The cost of the transaction is about $0.5 billion.

The Mirror company founded in 2016 is engaged in development of the equipment and the software for sports trainings in house conditions. One of the main developments of the company is Mirror fitness mirror. This smart device has an appearance of a normal mirror, however the functionality is worthy attention. The mirror is equipped with the camera, columns, the microphone and supports a set of sports programs. Mirror saves and analyzes data of trainings of users, allowing them to correct the program to achieve desirable results. Users can manage the device through the application which is available to smartphones.

Lululemon which specializes in production of sportswear declared acquisition of the producer of fitness mirrors Mirror officially

Kalvin McDonald, the CEO of Lululemon, noted that partnership with Mirror will allow to accelerate development of the personalized fitness in house conditions. Meanwhile Brinn Putman, the head of Mirror, explained that its purpose consists in development of flexible solutions which can be transformed with the same speed with which trends in the modern world change. According to Putman, Mirror applies for becoming 'the third main screen' in human life. In other words, the company is focused on improvement of functionality thanks to what consumers could take all advantages of fitness programs without leaving the house.

Mirror expects that partnership with Lululemon will allow the company to expand the list of the offered products. After the transaction Mirror will remain the independent company under control of its CEO, Brinn Putnam.^[1]

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