Peloton Shares Rise , Following Partnership With Lululemon.<br />Peloton Shares Rise , Following Partnership With Lululemon.<br />The former foes are teaming up, CNN reports.<br />The five-year "strategic global partnership" will see Lululemon abandon its Mirror fitness hardware.<br />while Peloton will stop producing <br />private-label fitness clothing.<br />Starting next month, Lululemon will <br />manufacture Peloton-branded clothing, which <br />will be available for purchase beginning Oct. 11.<br />The company will also <br />stop producing fitness classes.<br />Instead, Peloton's fitness classes can be streamed via the "Lululemon Studio" app.<br />The companies reportedly came to the realization that "dabbling in areas outside of their core competencies was not yielding results," according <br />to GlobalData retail analyst Neil Saunders.<br />The companies reportedly came to the realization that "dabbling in areas outside of their core competencies was not yielding results," according <br />to GlobalData retail analyst Neil Saunders.<br />Peloton’s push into apparel was a <br />failure as the selection was weak and looked incredibly lackluster in stores. The company was not doing sufficient volume to justify the operation. , GlobalData retail analyst Neil Saunders, via CNN.<br />Lululemon’s Mirror device <br />was a flop because it was too expensive and too complex, GlobalData retail analyst Neil Saunders, via CNN.<br />Peloton's chief emerging business officer <br />also issued a statement. .<br />By bringing together the best in fitness content with the best in athletic apparel, <br />we’ll give our communities one-of-a-kind experiences and special content that will inspire them to achieve their goals, Dion Camp Sanders, Peloton’s chief <br />emerging business officer, via press release
