The startup sells a $1,500 tech-enabled mirror with a digicam and audio system so prospects can take part in dwell health lessons at house. It launched in September 2018 and Lululemon stated the enterprise is on observe to generate $100 million in gross sales in 2020.
Lululemon, identified for expensive yoga pants, sees Mirror as a method to bolster income whereas additionally offering one other avenue to market its merchandise, CEO Calvin McDonald stated in a name with buyers. Mirror instructors, as an illustration, will put on Lululemon merchandise.
The athletic attire maker’s gross sales fell sharply within the April-ended quarter as U.S. and European shops had been closed amid the coronavirus pandemic, and the corporate stated it’s nonetheless attempting to gauge the affect of the virus on the corporate’s long-term bricks-and-mortar retail technique. Lululemon had $four billion in gross sales for the fiscal yr ended Feb. 2.