Stock Groups

Lululemon taps former Amazon exec as new CEO of its at-home gym Mirror

[ad_1]

Michael Aragon served previously as chief content officer for Twitch. Twitch is Amazon’s livestreaming service.

Source: Lululemon

LululemonIt announced Thursday that it had named ex-employees AmazonMirror named Michael Aragon chief executive of its home gym, Mirror.

The retailer announced that Aragon would also be responsible for Lululemon’s wider digital fitness goals. a press releaseLululemon CEO Calvin McDonald reports directly to him. January 17th will see the changes take effect.

Lululemon bought Mirror for $500 million in 2020. Brynn putnam was the CEO at that time. resigned from her role. In 2016, she founded the company.

Aragon previously was chief content officer of Amazon’s livestreaming Twitch business. Aragon also served in positions at Sony GroupContributing to the growth of PlayStation Network.

Aragon is going to be competing in a highly competitive marketplace for connected fitness equipment. In December, Lululemon cut its forecast for Mirror sales in fiscal 2021Between $125 million to $130 million. It had previously anticipated that the device would be sold for $250m to $275m.

In addition, the company will defend itself from an attack. lawsuit Filed by NikeOn Wednesday, Mirror was accused of patent infringement.

Lululemon reacted to the lawsuit by saying that Nike’s patents were “overly broad and null.” We believe in our position and are looking forward to taking it up in court.

Lululemon shares remained unchanged after hours trading. They closed the day higher by 1.7% to $368.77.

[ad_2]