Lululemon agrees to buy fitness platform Mirror for $500M

Lullulemon Athletica Inc. has agreed to acquire on-demand interactive workout platform Mirror for $500 million. The transaction builds on a partnership between the two companies that launched in mid-2019 with an initial investment in Mirror by Lululemon as part of a $34 million round and a content partnership which brought classes taught by Lululemon “ambassadors” to the Mirror platform. New York-based Mirror will continue to operate as a standalone company within Lululemon under the leadership…