During the outbreak, many fitness users flocked to home fitness. Mirror is a major competitor of home exercise equipment manufacturers, including Peloton, and currently has tens of thousands of users. Canadian sports brand Lululemon announced on Monday that it will acquire indoor fitness company Mirror for $500 million. This is also the first acquisition of Lululemon, and believes that more and more people will exercise at home. The two companies said that after the transaction is completed, Mirror will operate as an independent company within Lululemon, and its current CEO Brynn Putnam will continue to serve as the CEO of Mirror. Mirror also said it expects revenue to exceed $100 million in 2020, and it will achieve breakeven or slightly profitable by 2021. This transaction can also help Lululemon sell more fitness clothing. This transaction will be paid in cash and is expected to be completed in the second quarter of fiscal 2020. source