Lululemon Names Former Amazon Executive As New CEO Of Its Mirror Home Gym

Michael Aragon previously served as Director of Content at Twitch, Amazon’s streaming company.

Source: Lululemon

Lululemon said Thursday that it has named former Amazon CEO Michael Aragon as CEO of its Mirror home gym division.

Aragon will also oversee Lululemon’s broader digital fitness aspirations, the retailer said in Press releasereporting directly to Lululemon CEO Calvin MacDonald. The changes will take effect on January 17th.

Lululemon bought Mirror for $ 500 million in 2020. In September, then-CEO Brynn Putnam stepped down from his position. She founded the business in 2016.

Aragon was previously the Chief Content Officer of Twitch, Amazon’s streaming business. He also held positions at the Sony Group, helping to develop the PlayStation network.

In this new role, Aragon will face increasing competition in the connected fitness equipment market. Rivals include Peloton, Tonal, Hydrow and many more. The category has skyrocketed as gyms temporarily closed and consumers looked for ways to exercise at home during the pandemic.

In December, Lululemon lowered its fiscal 2021 mirror sales forecast to $ 125-130 million. The device was previously estimated to sell between $ 250 million and $ 275 million, which is wall-mountable and allows users to engage in cardio and other exercise.

In addition, Lululemon will defend against a lawsuit filed by Nike on Wednesday, in which the Mirror is accused of infringing on certain Nike patents.

Lululemon responded to the lawsuit, saying Nike’s patents were “too extensive and invalid. We are confident in our position and hope to defend it in court. “

Lululemon was unchanged after the close, ending the day with a 1.7% gain to $ 368.77.

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