Lululemon Athletica Inc. (NasdaqGS:LULU) is exploring a sale of Mirror (Curiouser Products Inc.), 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 April 17, 2023, giving the company a market value of about $47 billion.

The company, which at one point was selling Mirror products in-store, has pivoted to a digital and app-based product that it has rebranded as Lululemon Studio. But it isn't eliminating the hardware - it's just no longer a requirement. Luluemon, led by Chief Executive Officer Calvin McDonald, has said its new app will launch this summer with a lower subscription rate.

“We don't comment on rumors or speculation,” a representative for Lululemon said in a statement. “As previously announced, we are shifting the focus of Lululemon Studio from a hardware-centric offering to one that is also focused on digital app-based services going forward. This work is underway, and our strategy will enable us to create long-term value and build a larger community of guests with a deeper connection to Lululemon”.