Peloton and Lululemon have recently announced a five-year strategic global partnership, making Peloton the exclusive digital fitness content provider for Lululemon and Lululemon the primary athletic apparel partner for Peloton.
This partnership marks the end of Lululemon's recent venture into connected fitness with Mirror, which the company acquired in June 2020 for $500 million.
This partnership is expected to bring together the best in fitness content and athletic apparel to inspire a combined community of more than 20 million members and guests across the United States, Canada, the United Kingdom, Germany, and Australia.
Lululemon's Expansion into Athletic Apparel
Lululemon, which was initially renowned for its yoga gear, has since expanded its athletic apparel offerings. The company's partnership with Peloton is a strategic move to further its reach into the fitness market and offer its customers a more comprehensive fitness experience.
Benefits of the Partnership
The partnership is mutually beneficial for both Peloton and Lululemon. Peloton will gain access to Lululemon's large and engaged customer base, while Lululemon will be able to offer its customers access to Peloton's high-quality fitness content.
The partnership is also expected to help both companies expand their reach into new markets.