Peloton shares soar on digital content, apparel partnership with Lululemon
Publishing timestamp: 2023-09-27 18:22:36
Summary
Peloton and Lululemon have announced a five-year strategic partnership. Peloton will develop digital fitness content for Lululemon's exercise app, while Lululemon will become Peloton's primary athletic apparel provider. Lululemon plans to discontinue sales of its Studio Mirror product. The terms of the deal were not disclosed. Peloton's stock jumped over 15% on the news, while Lululemon's shares remained flat. This partnership allows Peloton to share its content with another company for the first time.
Sentiment: NEUTRAL
Keywords: peloton interactive inc, business, lululemon athletica inc, retail industry, breaking news: business, business news,