Approximately 120 Lululemon Studio employees will be affected following the brand’s announcement that it will stop selling its Mirror workout device. The company says it will keep offering service and support to current owners.
Lululemon (LULU), a renowned athletic clothing brand, and Peloton, an exercise equipment company, popular for spin bikes and treadmills have announced a significant five-year partnership. Under this agreement, Peloton’s workout content will be made available to individuals enrolled in Lululemon’s membership programs. However, it also involves Peloton discontinuing the sale of its Studio Mirror fitness device.
Starting from November 1st, Studio Mirror will offer access to an extensive library of Peloton classes, numbering in the thousands. These fitness resources will be regularly refreshed on both the Mirror itself and its associated app, with updates occurring on a weekly basis. Importantly, this expanded content will be seamlessly integrated into the memberships of existing users, incurring no additional charges beyond their current subscription fees. Furthermore, Lululemon has committed to producing Studio Mirror content until at least the spring of the following year, ensuring a sustained and engaging fitness experience for its members.
Following the earlier this year termination of 100 employees from the Lululemon Studio division, the corporation has now announced more layoffs. Lululemon claimed at the time that the choice was made as part of its plan to concentrate on digital content.
For $500 million, the athletics company purchased Mirror in 2020. The acquisition turned Lululemon’s otherwise prosperous earnings into an uncomfortable space. Lululemon will discontinue its digital app-only membership category through its new collaboration with Peloton and provide users the opportunity to join Peloton App One. In November, current All-Access Members will continue to pay the same amount to access thousands of Peloton classes.
In a joint press release issued on Wednesday, both companies outlined their roles in this collaboration. Peloton will assume the role of the “digital fitness content provider” for Lululemon, while Lululemon will take on the position of the “primary athletic apparel partner” for Peloton.
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