At-home fitness services are experiencing explosive growth right now. Peloton Interactive priced its IPO last September and has experienced exponential revenue growth over the last several years. Another interactive fitness start-up enjoying robust growth is Mirror, which makes interactive displays for activities like yoga, dance cardio, and other strength workouts that are squarely in the wheelhouse of Lululemon Athletica (NASDAQ: LULU).
Last year, Lululemon invested in Mirror as part of a round of financing that provided $34 million to the start-up. Mirror was founded by a former Lululemon ambassador, Brynn Putnam. On the company's fiscal third-quarter earnings conference call in December, Lululemon CEO Calvin McDonald discussed the rationale for the Mirror investment. The reasons he outlined could spell another growth avenue for the apparel brand over the long term.
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