Peloton and Lululemon Join Forces to Create Connected Fitness and Apparel
Lululemon and Peloton have revealed a five-year collaboration, effectively signaling the end of Lululemon’s recently acquired fitness device, Mirror.
The interactive fitness company will become Lululemon’s exclusive digital fitness content provider, which in turn will become the preferred sportswear partner of New York-based Peloton.
Vancouver, British Columbia-based Lululemon, initially known mostly for making yoga gear, expanded into athletic apparel and then bought home-training startup Mirror to market the mistakes to recalls. This spring, the company unveiled a major brand that shed its identity as a seller of luxury exercise bikes and equipment and shifted toward a more inclusive health technology company image.
Peloton shares were up about 2% Wednesday morning after jumping as much as 15% in off-hours trading after the partnership was announced late Wednesday. Trading below $5 a share early Thursday, they have lost about three-quarters of their value from their 2023 highs near $18 in February. The stock peaked at around $171 in early 2021.
Lululemon shares fell less than a quarter of a percent to $378.30 in morning trading.
