Sports apparel and leisurewear specialist Lululemon’s $500m purchase of interactive home gym start-up Mirror may turn out to be one of retail’s most inspired deals this year.
The acquisition of Mirror, launched little over two years ago by New York entrepreneur and former ballerina Brynn Putnam, could provide a blueprint for other retailers as they adapt to a world transformed by the pandemic.
The collapse of trading during the outbreak has opened the door to opportunistic deals, such as Boohoo’s swoop on distressed fashion players such as Oasis. That makes perfect sense as the etailer makes the most of its platform to extend its reach.
Lululemon’s bet on Mirror is not a distress deal. It may be more expensive but could prove an astute and complementary broadening of its offer as consumers’ lives change in the longer term.
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