Multi-dimensional agreement brings together the
best in fitness content and athletic apparel to inspire a combined
community of more than 20 million Members and guests
lululemon becomes Peloton’s primary apparel
partner
Peloton becomes exclusive digital fitness
content provider for lululemon and will develop all content for
lululemon Studio beginning early 2024
lululemon (NASDAQ:LULU) and Peloton (NASDAQ:PTON) today
announced a five-year strategic global partnership through which
Peloton will become the exclusive digital fitness content provider
for lululemon, and lululemon will become the primary athletic
apparel partner to Peloton.
Together, the brands will engage their global community of
members in the United States, Canada, the United Kingdom, Germany
and Australia through technical athletic apparel, real life
experiences, special programming, and original content, expanding
the brand awareness and reach for both companies. In addition, a
select number of Peloton Instructors will become lululemon
Ambassadors as part of the partnership.
“We’re excited to collaborate with Peloton to connect with our
highly engaged communities across North America and in markets
around the world,” said Celeste Burgoyne, President, Americas and
Global Guest Innovation, lululemon. “As a leader in technical
athletic apparel, this partnership will create a powerful product
offering for Peloton Members and fans. Our two companies share a
vision to advance wellbeing through movement, and this partnership
ensures our lululemon Studio Members will have access to the most
expansive and dynamic offering of fitness content possible.”
“Our brands create transformational experiences, products, and
content that build meaningful connections and unlock greater
possibilities for our Members, anytime, anywhere,” said Dion Camp
Sanders, Chief Emerging Business Officer at Peloton. “By bringing
together the best in fitness content with the best in athletic
apparel, we’ll give our communities one-of-a-kind experiences and
special content that will inspire them to achieve their goals.”
Beginning October 11, 2023, co-branded apparel across
lululemon’s product lines will be available for purchase at Peloton
retail stores and online at apparel.onepeloton.com in the US, UK,
and CA (and in all five of Peloton’s global markets by March 2024).
The co-branded apparel will be launched over the course of three
new events that will be added to Peloton’s already scheduled
Peloton on Tour, starting with an activation in Chicago on October
5-7, 2023.
Starting on November 1, 2023, lululemon Studio All-Access
Members will have access to thousands of Peloton classes for the
same price they pay today, as Peloton becomes the exclusive
provider of digital fitness content to lululemon Studio Members.
Peloton content will be updated on a weekly basis on the Studio
device and companion app, with new Studio content produced by
lululemon through Spring of next year. In addition, exclusive
Peloton content will be available to people who sign up for
lululemon’s free Essential membership program, which currently has
more than 13 million Members.
lululemon intends to discontinue selling the lululemon Studio
Mirror before the end of the year and will continue to provide
ongoing service and support for Mirror devices. lululemon will also
discontinue its digital app-only membership tier on November 1,
2023, and current lululemon Studio app-only members will be offered
an opportunity to become a Peloton App One Member.
Burgoyne added, “In the months ahead, we look forward to
bringing this partnership to life with Peloton and leveraging the
strengths of both brands to further support our growing guest and
member communities on their fitness and wellbeing journeys.”
About lululemon
lululemon (NASDAQ:LULU) is a technical athletic apparel,
footwear and accessories company for yoga, running, training, and
most other activities, creating transformational products and
experiences that build meaningful connections, unlocking greater
possibility and wellbeing for all. Setting the bar in innovation of
fabrics and functional designs, lululemon works with yogis and
athletes in local communities around the world for continuous
research and product feedback. For more information, visit
lululemon.com.
About Peloton
Peloton (NASDAQ: PTON), provides Members with expert
instruction, and world class content to create impactful and
entertaining workout experiences for anyone, anywhere and at any
stage in their fitness journey. At home, outdoors, traveling, or at
the gym, Peloton brings together immersive classes, cutting-edge
technology and hardware, and the Peloton App with multiple tiers to
personalize the Peloton experience with or without equipment.
Founded in 2012 and headquartered in New York City, Peloton has
nearly 7 Million Members across the US, UK, Canada, Germany, and
Australia. For more information, visit www.onepeloton.com.
Forward-Looking Statements:
This press release includes estimates, projections, statements
relating to the Company's business plans, objectives, and expected
operating results that are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. In many cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "outlook," "believes,"
"intends," "estimates," "predicts," "potential" or the negative of
these terms or other comparable terminology. These forward-looking
statements also include the Company's guidance and outlook
statements. These statements are based on management's current
expectations but they involve a number of risks and uncertainties.
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, which include, without
limitation: the Company's ability to maintain the value and
reputation of its brand; changes in consumer shopping preferences
and shifts in distribution channels; the acceptability of its
products to guests; its highly competitive market and increasing
competition; increasing costs and decreasing selling prices; its
ability to anticipate consumer preferences and successfully develop
and introduce new, innovative and updated products; its ability to
accurately forecast guest demand for its products; its ability to
expand in light of its limited operating experience and limited
brand recognition in new international markets and new product
categories; its ability to manage its growth and the increased
complexity of its business effectively; its ability to successfully
open new store locations in a timely manner; seasonality;
disruptions of its supply chain; its reliance on a relatively small
number of vendors to supply and manufacture a significant portion
of its products; suppliers or manufacturers not complying with its
Vendor Code of Ethics or applicable laws; its ability to deliver
its products to the market and to meet guest expectations if it has
problems with its distribution system; increasing labor costs and
other factors associated with the production of its products in
South Asia and South East Asia; its ability to safeguard against
security breaches with respect to its technology systems; its
compliance with privacy and data protection laws; any material
disruption of its information systems; its ability to have
technology-based systems function effectively and grow its
e-commerce business globally; climate change, and related
legislative and regulatory responses; increased scrutiny regarding
its environmental, social, and governance, or sustainability
responsibilities; an economic recession, depression, or downturn or
economic uncertainty in its key markets; global or regional health
events such as the current COVID-19 pandemic and related
government, private sector, and individual consumer responsive
actions; global economic and political conditions; its ability to
source and sell its merchandise profitably or at all if new trade
restrictions are imposed or existing trade restrictions become more
burdensome; changes in tax laws or unanticipated tax liabilities;
its ability to comply with trade and other regulations;
fluctuations in foreign currency exchange rates; imitation by its
competitors; its ability to protect its intellectual property
rights; conflicting trademarks and patents and the prevention of
sale of certain products; its exposure to various types of
litigation; and other risks and uncertainties set out in filings
made from time to time with the United States Securities and
Exchange Commission and available at www.sec.gov, including,
without limitation, its most recent reports on Form 10-K and Form
10-Q. You are urged to consider these factors carefully in
evaluating the forward-looking statements contained herein and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. The forward-looking statements made herein
speak only as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances, except as
may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230927420138/en/
Investors: lululemon Howard Tubin 1-604-732-6124
Peloton Peter Stabler investor@onepeloton.com
Media: lululemon Erin Hankinson 1-604-732-6124
Peloton Ben Boyd press@onepeloton.com
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