Lululemon Struggles To Find Buyer For Mirror Despite Slashing Prices: Report
Portfolio Pulse from Lekha Gupta
Lululemon Athletica is struggling to find a buyer for its fitness product Mirror, despite lowering the price by around 90% to $58 million. The company purchased Mirror for $500 million in June 2020 and has been trying to offload the sinking asset.
June 23, 2023 | 11:45 am
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NEGATIVE IMPACT
Lululemon's inability to find a buyer for Mirror at a significantly reduced price may negatively impact the company's stock price.
Lululemon's difficulty in finding a buyer for Mirror, even after slashing the price by 90%, indicates that the asset may be underperforming and could be a financial burden on the company. This could negatively impact investor sentiment and put downward pressure on LULU's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100