Has Lululemon reached its peak?
Lululemon joined the ranks of the world’s most valuable retail brands on the back of Americans willing to splurge $120 on leggings. Now the purveyor of yogawear is itself splashing out, with a $500m cash deal for Mirror, an exercise equipment start-up. The clothing company has long been pushing into different products, including menswear, and into territories outside its North American heartlands. But the move into workout hardware is among the clearest signs yet that its managers are turning to business lines to maintain Lululemon’s status as a Wall Street darling. Calvin McDonald, Lululemon’s chief executive, said a boom in...
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