lululemon athletica's (NASDAQ: LULU) $500 million acquisition of the MIRROR home interactive fitness brand made some waves in the athletic world when it was announced on June 29. While the deal might have seemed as if it came from left field, it didn't. It perfectly fits Lululemon's strategy to grow the brand through grassroots initiatives, community, and digital omni-channel experiences.
On a recent call to discuss the deal, CEO Calvin McDonald went into more detail about why Lululemon decided to buy MIRROR, which highlights opportunities for the company to add incremental sales through cross-selling between the brands. Here's what he had to say.
Image source: MIRROR.