Lululemon Athletica is exploring a sale of Mirror, the company it acquired for $500M in 2020, Gillian Tan and Liana Baker of Bloomberg report, citing people with knowledge of the matter. Lululemon is working with an adviser to solicit interest in Mirror, sources told Bloomberg. Mirror’s hardware sales have missed Lululemon’s projections and the company took $443M in impairment charges in Q4, the journalists note. "We don’t comment on rumors or speculation," a representative for Lululemon said in a statement. "As previously announced, we are shifting the focus of Lululemon Studio from a hardware-centric offering to one that is also focused on digital app-based services going forward. This work is underway, and our strategy will enable us to create long-term value and build a larger community of guests with a deeper connection to Lululemon."
Published first on TheFly
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