Lululemon Studio Lay-Offs Reflect Fitness Shift Away From Mirror
July 19, 2023
Athleisure and fitness company Lululemon Athletica is reportedly looking to divest its premium fitness technology device, Mirror, as at-home fitness equipment declines in popularity post-pandemic. The company has integrated its Lululemon Studio business, which includes Mirror, into its main operations and has laid off 100 employees as part of its shift toward digital content. Lululemon acquired Mirror for $500 million in 2020, but its sales have fallen below expectations, leading to impairment charges and a decline in its value.
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