Peloton will become Lululemon's exclusive digital fitness provider as the apparel retailer winds down operations of its Mirror segment.
Peloton Interactive said it had forged a partnership with Lululemon Athletica, sending shares of the maker of stationary bikes up by double digits in after-hours trading.
Peloton will now become Lululemon’s exclusive provider of digital fitness content. Lululemon, in turn, will become Peloton’s primary apparel partner, the companies said. The apparel firm also said it will stop selling its Studio Mirror by the end of the year and will discontinue its digital app-only membership tier on Nov. 1..
The apparel will be available for purchase starting Oct. 11 across Peloton’s retail and online stores. Lululemon will give its Studio-All Access Members access to thousands of Peloton classes for the same price they pay today, starting Nov. 1. “As a leader in technical athletic apparel, this partnership will create a powerful product offering for Peloton Members and fans,” said Celeste Burgoyne, president of global guest innovation at Lululemon in a news release. “Our two companies share a vision to advance wellbeing through movement, and this partnership ensures our lululemon Studio Members will have access to the most expansive and dynamic offering of fitness content possible.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peloton shares soar 30% on digital content partnership with LululemonPeloton shares spiked Wednesday as the company announced a five-year partnership to develop digital fitness content for Lululemon. The fitness company’s stock soared as much as 30% in extended trading. This is breaking news. Please check back for updates.
Read more »
Peloton shares soar on digital content, apparel partnership with LululemonAs it announced the Peloton partnership, Lululemon said it would stop selling the Studio Mirror device by the end of the year.
Read more »
Northisle stock surges to highest in a year on near-surface gold hitsThe 33,000-hectare North Island property hosts a number of porphyry copper and gold occurrences at varying stages of development.
Read more »
Key stock-market volatility gauge surges to 4-month high as S&P 500 slumpsA closely watched gauge of expected stock-market volatility jumps to its highest level since May as the S&P 500 slumps to a three-month low.
Read more »
More than 100 juveniles loot Philadelphia stores after judge’s ruling: reportsPolice say the juveniles were wearing masks and looted Footlocker, Apple and Lululemon Tuesday evening.
Read more »