Fitness company Peloton Interactive (NASDAQ:PTON) is a popular stock among investors, and rightly so. The company has been growing, customers are loyal, and it appears to have a big opportunity going forward. But maybe it's not the only good stock to buy in this space.

In this video from Motley Fool Backstage Pass, recorded on Sept. 3, Millionacres editor Deidre Woollard explains why she believes Lululemon Athletica (NASDAQ:LULU) is a good stock to buy especially for investors who already love Peloton stock.

Deidre Woollard: First I'm going to talk about your turnkey and that's Lululemon. Lululemon has a lot to recommend it. The stock is up 500% over the past five years. Now it's only up around 9% year to date. Total revenue of $1.2 billion in the last quarter. The thing that's great about Lululemon is you've got yoga pants, sure, but they've got now into running, training, they've seen huge numbers in their on the move segment which is basically athleisure, especially among men as well as women.

The value of the Q1 store performance was 88% of 2019, so people are back in the stores. Lululemon is also very successful in e-commerce. They've also just created a resale clothing program. The reason this is super smart is not only is it a sustainability play and that's good for PR, but it's also on trend with the younger generations who are super into resale and gifting and it gives them a chance to capture the younger generations who may not be able to afford those pricey and fabulous Lululemon pants yet.

The other thing that I think is really exciting about Lululemon is you also have MIRROR. MIRROR happens to be the same price as the newly reduced Peloton bike. Unlike the Peloton, it fits nicely into your house. Not an eyesore, but it's a large piece of equipment, the Peloton bike. You've got the beautiful MIRROR, it also has a subscription plan. Now its community isn't as big as Peloton, but the flexibility in MIRROR is fantastic in terms of the ways that they can gradually keep adding programs to it. It's not going to go out of style, it literally also serves as a mirror in your house.

Other thing that's great about Lululemon, they're going to get into footwear, and I know Peloton is also looking at that too, but I think for Lulu, it is fantastic. In many ways, Lulu, I believe, is where Peloton wants to be as that go-anywhere brand. But Lulu already has that strong retail footprint, great e-commerce, they are in fitness, of course, but also beyond that, this is really a true lifestyle brand.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.