Lululemon acquires minority stake in fitness tech startup Mirror
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New York – Lululemon has participated in the latest fundraising round for Mirror, a fitness startup that brings boutique fitness classes home with high-tech mirrors.
The new funding totalled about 34 million dollars in a new funding round led by Point72 Ventures. Lululemon partook with an undisclosed amount and became one of Mirror’s minority owners, according to an official communication.
The Series B-1 round was led by Point72 Ventures. Other participants included LionTree LLC, Spark Capital, model Karlie Kloss and founder of Creative Artists Agency Kevin Huvane, among others.
Mirror plans to use its new funds to open additional stores and bump up its class offerings, reported the ‘Wall Street Journal’.
CEO Brynn Putnamcalled out Lululemon in a press release, saying that "There are significant synergies between our brands and I'm excited for the opportunity to innovate together."