Lululemon, the leading brand for athleisure, recently announced their plans to acquire home exercise startup MIRROR for $500 million.
This deal comes at a time of the exploding world of at-home fitness, with many consumers swapping out gym memberships with at-home products. With this new vertically-integrated home fitness experience addition, Lululemon is using a forward-thinking strategy, and providing many additional brand touch points for consumers.
By providing this new platform during the pandemic, the company is enhancing their digital ecosystem, and building upon their vision of being ‘THE’ experiential brand that brings together a community of people living the sweatlife. Digital offerings will continue to grow in demand. The DTC companies that recognize this will be able to broaden their reach to all consumers.
BRANDS IN FOCUS
Totem has been steadily following the direct-to-consumer space and we have been taking a look at what strategies brands and companies are taking on. Especially during COVID, many DTC companies have discovered unique approaches to reaching and engaging with customers. Here is one example of a successful approach adopted by a DTC brand.
