By Nathalie Voit
Exercise equipment maker Peloton announced it will begin selling select products and accessories on Amazon.
In a news release posted on the company’s website on Aug. 24, Peloton said its iconic bike will be available in Amazon stores starting Wednesday. Other products available at launch include the company’s $295 interactive strength training Guide and accompanying accessories, including Peloton dumbbells, Peloton light weights, and the Peloton heart rate band. Branded apparel, including sports bras, tanks, leggings, shorts, hoodies, joggers, and hats, will also be available for sale through the retailer.
The company’s original exercise bike will debut for $1,445 at launch and be available for delivery to most U.S. customers. The bike is currently discounted by $100 on the Amazon website.
The move marks a major retail strategy shift for the home fitness firm, which until then sold its products exclusively through its own e-commerce site onepeloton.com. As per the press release, the initiative is a necessary adjustment to broaden Peloton’s customer reach.
“Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand,” Peloton Chief Commercial Officer Kevin Cornils said in the announcement. “We want to meet consumers where they are, and they are shopping on Amazon. Providing additional opportunities to expose people to Peloton is a clear next step, as we continue to generate excitement for our unparalleled connected fitness experience.”
Peloton has been suffering from slumping sales following a post-pandemic plunge in demand. On Aug. 25, the connected-fitness firm released its fiscal fourth-quarter earnings, which showed a $1.24 billion loss in operating revenue amid high restructuring costs over the quarter and a declining membership count.
“The loss reflects the substantial progress we made this last quarter re-architecting the business to reduce the current and future inventory overhang, converting fixed to variable costs, and addressing numerous supply chain issues,” Peloton CEO Barry McCarthy said about $415 million in restructuring charges in a Thursday letter to shareholders.
The dismal financial results cap off Peloton’s sixth straight quarter of reported losses.
