Lululemon Athletica Inc (NASDAQ:LULU) is struggling to find a buyer for the fitness product Mirror, although the company lowered the price of the asset.

Lululemon's plan to sell the product shows the company's eagerness to offload the sinking asset, the report added, citing a person familiar with the matter. 

The report quoted a Lululemon spokesperson saying, "We do not comment on market rumors. As we've previously shared, we have evolved our lululemon Studio strategy to focus on a digital app that will create more opportunities for lululemon guests to become members and engage with lululemon Studio content. We are now focused on bringing this strategy to life."

Price Action: LULU shares are trading lower by 0.30% at $376.84 premarket on the last check Friday.