Lululemon Athletica has acquired a minority stake in 7mesh Industries, a cycling apparel startup based in nearby Squamish, British Columbia, according to Fortune.
The report noted that 7mesh makes $250 cycling jackets and $140 shorts and will collaborate on new ventures with Lululemon’s research and development arm called 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,” 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.”
Photo courtesy 7mesh