Lululemon Reportedly Exploring Sale of Fitness-Product Business It Acquired for $500 Million

Lululemon is exploring a sale of its Mirror fitness-product business, according to Bloomberg. 

The sportswear company acquired the business for $500 million in 2020, at the height of the at-home fitness trend, but it has struggled to integrate it with its core business of selling athletic apparel and footwear, with one analyst on Monday writing that selling Mirror could eliminate a “distraction.” 

“We do believe that the commitment of Lululemon to Mirror has likely waned meaningfully, lately, and expect that management could opt to completely divest the business, to limit any further strategic distraction,” wrote Oppenheimer analyst Brian Nagel, in a note to investors.

Read the source article at businessinsider.com