Lululemon Said to Explore Sale of Mirror Unit It Bought in 2020

Lululemon Athletica Inc. is exploring a sale of Mirror, the fitness-equipment maker it acquired for $500 million in 2020, according to people with knowledge of the matter.

Lululemon is working with an adviser to solicit interest in Mirror, said the people, who asked to not be identified discussing confidential information.

Lululemon’s shares were down 0.1% to $368.07 at 12:49 p.m. in New York on Monday, giving the company a market value of about $47 billion.

Mirror’s hardware sales have missed Lululemon’s projections and the Vancouver-based company took $443 million in impairment charges on the business in the fourth quarter. ...