The attention war has moved into the home in a bigly way in 2020…not through the TV, but through fitness technology.
Today $LULU bought Mirror for $500 million, a company they invested in last year. Here are the details on the company and the investors. Pretty amazing for a company that came out of stealth in 2018.
Anyhoo, it is obvious post COVID that $LULU went from fashology leader to fashology chaser as Peloton has surged in homes. With this acquisition, $LULU is admitting that it is way behind Peloton and would like some of that attention, ecommerce and social media market cap that the markets are giving Peloton.
Basically $LULU paid 1 percent of the company (in cash) to own it now. I have not heard any stories Mirror in the wild but I got some good feedback as to the ‘why’ from my streams when I asked.
One thing I am sure of…this acquisition EXPANDS the overall market for in home fitness.
The great things about public markets is how money moves around. I noticed tonight that the biggest winner of this new Peloton/LULU fitness/fashology war has been Nautilus ($NLS) which was left for dead and since March 20th market panic lows is up an astonishing 700 percent. Woops…
Your move Apple, Amazon and Nike.
Last but not least today, I spent almost 2 hours with my friends Dave, Chris and Jordan on their great YouTube investing show Dumb Money. They dug deep on how I think about the markets, social signal, trends, my 8 to 80 stocks and how Robinhood is unbundling Vanguard.
Brian watched the show on 1.5 speed and summarized it for the busy people: