Michael Aragon beforehand served the function of chief content material officer of Twitch, Amazon’s livestreaming enterprise.
Supply: Lululemon
Lululemon mentioned Thursday it has named former Amazon exec Michael Aragon as chief government officer of its at-home gymnasium enterprise, Mirror.
Aragon will even oversee Lululemon’s broader digital health aspirations, the retailer mentioned in a press release, reporting on to Lululemon CEO Calvin McDonald. The modifications shall be efficient Jan. 17.
Lululemon bought Mirror for $500 million in 2020. In September, then CEO Brynn Putnam resigned from her role. She had based the enterprise in 2016.
Aragon beforehand was chief content material officer of Twitch, Amazon’s livestreaming enterprise. He additionally held positions at Sony Group, serving to develop the PlayStation community.
On this new function, Aragon will face an more and more aggressive marketplace for related health gear. Rivals embrace Peloton, Tonal, Hydrow and plenty of others. The class exploded with curiosity as gyms closed briefly and customers seemed for tactics to work out at dwelling throughout the pandemic.
In December, Lululemon cut its forecast for Mirror sales in fiscal 2021 to between $125 million and $130 million. Beforehand, it anticipated gross sales of $250 million to $275 million for the machine, which mounts on the wall and permits customers to take cardio and different train lessons.
Individually, Lululemon shall be defending itself from a lawsuit filed by Nike on Wednesday, which accuses Mirror of infringing on a few of Nike’s patents.
Lululemon responded to the go well with by saying Nike’s patents “are overly broad and invalid. We’re assured in our place and look ahead to defending it in court docket.”
Lululemon shares had been unchanged in after-hours buying and selling, having closed the day up 1.7% at $368.77.
