lululemon names Michael Aragon as CEO of MIRROR

Rhea-AI Summary

lululemon athletica has appointed Michael Aragon as CEO of MIRROR and lululemon Digital Fitness, effective January 17, 2022. Mr. Aragon will lead the expansion of the MIRROR platform, which boasts a growing subscriber base. Formerly the Chief Content Officer at Twitch, he significantly increased creator engagement and viewership. Aragon aims to enhance lululemon's digital fitness community by leveraging his expertise. This strategic move is expected to strengthen lululemon's position in the fitness market.

Positive

• Michael Aragon has a strong background in digital content and community engagement, having led Twitch's massive growth.
• MIRROR already possesses a growing subscriber base and a strong market position, indicating potential for further expansion.
• The new CEO's experience aligns with lululemon’s vision for enhancing community and fitness engagement.

Negative

• There are inherent risks tied to limited brand recognition of MIRROR in international markets, which could impact expansion efforts.
• Potential challenges in achieving profitability for the MIRROR business remain, as indicated by the forward-looking statements.

Appointment accelerates lululemon’s ability to fully realize its vision for MIRROR to build and extend the lululemon community globally

VANCOUVER, British Columbia--(BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU) today announced the appointment of Michael Aragon as CEO of MIRROR and lululemon Digital Fitness, effective January 17, 2022. In this role, Mr. Aragon will oversee the development and expansion of the MIRROR in-home digital platform, and will report directly to Chief Executive Officer, Calvin McDonald.

“Mike Aragon has an impressive track record of building successful brands by connecting people and building communities through digital content and experiences,” said Calvin McDonald, CEO of lululemon. “He is the ideal leader to chart the path forward for MIRROR as we engage with the more than 10 million lululemon guests who live the sweat life.”

Mr. Aragon joins lululemon from Amazon, where he has served for five years as Chief Content Officer at Twitch, the world’s leading live-streaming service that creates unique multi-player entertainment experiences. Under Mr. Aragon’s leadership, Twitch increased the number of creators using the platform from 1 million to 8 million and expanded into new content segments beyond gaming, leading to significant growth in the number of hours watched.

Previously, Mr. Aragon served as General Manager, VRV at Ellation, Inc., where he expanded programming and led the launch of a new digital service at the start-up prior to its acquisition by AT&T in 2017. And he spent more than a decade with the Sony Group Corporation, where he expanded the PlayStation Network beyond gaming, and managed the digital, music and original content services in more than 30 countries.

“lululemon is a brand synonymous with well-being and building communities, with an incredible opportunity to create the most engaging fitness content available in the industry,” said Mr. Aragon. “MIRROR has a strong market position with a growing subscriber base, and I look forward to building upon this solid foundation and defining the next chapter of growth with the talented MIRROR team.”

Mr. Aragon is an avid runner and earned his BBA in Finance from the University of New Mexico and his MBA from Dartmouth College.

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ: LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit LULULEMON.COM.

About MIRROR

MIRROR is a nearly invisible, interactive home gym featuring live and on-demand fitness classes and personal training in a variety of workout genres. MIRROR is creating a new category of in-home fitness with cutting-edge hardware, responsive software, and best-in-class content that transforms any room into a complete home gym. For the first time, the essential components of a great studio workout – variety, personalization, and community – are brought to the most convenient place: the home. MIRROR was founded by Brynn Putnam, creator of Refine Method, named “New York’s Smartest Workout.” MIRROR is headquartered in New York City. HTTPS://MIRROR.CO.

Forward-looking Statements

This press release contains “forward-looking statements,” which are statements related to future, not past, events. These statements often address our future business and financial performance and expected results and are based on our current expectations. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties we face. For example, our limited operating experience and limited MIRROR brand recognition in new international markets and new product categories may limit our expansion and cause our business and growth to suffer, we may not realize the potential benefits and synergies sought with the acquisition of MIRROR, and we may not be able to grow the MIRROR business and have it achieve profitability. Other risks and uncertainties are included in our most recent reports on Form 10-K and Form 10-Q, which we file with the SEC. All forward-looking statements speak only as of the date of this press release and we do not plan publicly to update these statements to reflect subsequent events or circumstances, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005777/en/

Investors:

lululemon athletica inc.

Howard Tubin

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or

ICR, Inc.

Joseph Teklits/Caitlin Churchill

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Media:

lululemon athletica inc.

Erin Hankinson

1-604-732-6124

or

Brunswick Group

Eleanor French

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Source: lululemon athletica inc.

FAQ

Who is the new CEO of MIRROR for lululemon?

Michael Aragon has been appointed as the new CEO of MIRROR, effective January 17, 2022.

What is Michael Aragon's background before joining lululemon?

Before lululemon, Michael Aragon was the Chief Content Officer at Twitch, where he expanded the creator base significantly.

How will Michael Aragon impact lululemon's MIRROR platform?

Mr. Aragon aims to enhance the MIRROR platform's community engagement and subscriber growth.

What challenges does lululemon face with the MIRROR brand?

Challenges include limited brand recognition in new markets and the potential difficulty in achieving profitability.