Read the latest breaking news from around the UK. “The versatility of the platform completely aligns with how we view the versatility of our product,” he said.The acquisition, expected to close during this quarter, will be paid in cash, with $50 million held back and paid out over two years, the company said.Lululemon has been hurt by the coronavirus pandemic, but nowhere near as badly as most other apparel chains. It’s a coup for Mirror and its chief executive, Brynn Putnam, a former New York City Ballet dancer The purchase fits with Lululemon’s ambitions to become an experiential brand that helps customers live a “healthy and mindful lifestyle across multiple experiences,” as it “This isn’t just about getting guests to buy apparel,” Calvin McDonald, chief executive of Lululemon, said in an interview. Lululemon to Buy Mirror, a Fitness Start-Up, for $500 Million The athleisure company’s first acquisition is a bet on the future of fitness and a way to further tie into the lives of its customers. These are external links and will open in a new windowTrinity Mirror, the owner of the Mirror newspaper, is to buy local paper publisher Local World in a deal worth £220m, making it the UK's largest regional news outlet.Trinity Mirror will buy the 80% of Local World it does not already own, and assume its debts.The deal gives it control of more than 200 titles. Image caption Richard Desmond is chairman of Northern & Shell . DBM to submit 2021 national budget to Congress in Aug. Top Stories. Yattendon owned a 21.3% stake in Local World.More local titles could make the company more attractive to advertisers. Latest News. Putnam, a 37-year-old Harvard graduate, was once a Lululemon ambassador herself.Mr. Press J to jump to the feed. Duterte threat vs telcos weighs on investor sentiment. The company recently reported that its net sales for the quarter that ended May 3 tumbled 17 percent to $652 million, but in that period, its direct-to-consumer sales jumped nearly 70 percent.It said on Monday that its liquidity included more than $800 million in cash, a $400 million revolving credit line and a new one-year $300 million revolving credit line.Lululemon to Buy Mirror, a Fitness Start-Up, for $500 MillionBrynn Putnam, the chief executive of the exercise start-up Mirror. Ms. Putnam, who will remain chief executive of Mirror and report directly to Mr. McDonald, said that the interactive fitness company had “tens of thousands of subscribers” and had seen its business accelerate during the coronavirus pandemic.Home fitness products like Peloton and streaming classes “It definitely has helped us learn and see quicker into the future now,” Mr. McDonald said. Classes like meditation that are taught by Lululemon’s “Ms. Its classes include Pilates, barre, kickboxing and strength training.The acquisition will also expand a “content creation partnership” between Mirror and Lululemon. Philippines faces bumpy economic recovery. McDonald suggested that it would not be surprising to see instructors on Mirror clad in Lululemon gear in the future. Press question mark to learn the rest of the keyboard shortcuts. User account menu • [Business] - Lululemon to buy Mirror, a fitness startup, for $500 million | Chicago Tribune. Get all the headlines, pictures, video and analysis on the stories that matter to you Trinity Mirror, the owner of the Mirror newspaper, is to buy local paper publisher Local World in a deal worth £220m, making it the UK's largest regional news outlet. The BBC is not responsible for the content of external Internet sitesHe resigns from the influential media company's board, citing "disagreements over editorial content". The athleisure company’s first acquisition is a bet on the future of fitness and a way to further tie into the lives of its customers.Lululemon, the purveyor of expensive athleisure and activewear, is betting on the future of personalized remote exercise as a way to reach customers by acquiring Mirror, a home fitness start-up that sells a $1,495 wall-mounted machine for streaming workout classes.The $500 million purchase, which Lululemon announced on Monday, is the company’s first acquisition and follows its $1 million investment in Mirror last year. Editors' Picks. These are external links and will open in a new window Trinity Mirror eyes Richard Desmond's Northern & Shell assets Log in sign up.
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