Yoga and running clothing business Lululemon has acquired a minority stake in cycle clothing business 7mesh, according to Fortune.
7mesh are a British Columbia-based apparel business with a focus on the mid-to-high-end of the cycle clothing market and catering for both men and women.
According to Fortune, Lululemon’s interest will see 7Mesh collaborate with its research and development arm Whitespace.
“It is an interesting collaboration, a relatively small effort if you will, but what we like about it is it is an example of how we are looking to stretch our model of innovation outside our four walls,” said Lululemon Chief Financial Officer Stuart Haselden in an interview with Fortune. “Cycling is a category that is small but if we could leverage a partnership with them, it could make sense for us to enter it effectively.”
The move isn’t understood to spell out great interest in cycling by Lululemon, it is “simply a category that a number of our guests participate in,” added Haselden.
It is anticipated that products developed in tandem with the Whitespace arm will arrive in stores by mid-2018.
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