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Peloton has teamed up with online retail giant Amazon in a bit to halt the decline in sales of its static bikes.
The move marks the first time the beleaguered at-home fitness brand, which until now has sold its equipment through its own website, showrooms and what other direct sales channels, has partnered with a third-party retailer to reach consumers.
Announcing the initiative yesterday, Peloton’s chief commercial officer Kevin Cornils said: “Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand.
“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,” he added.
Besides its signature Peloton Bike, which will initially retail at $1,445 through Amazon, the company will also be selling other products through the partnership including its cycling shoes and clothing.
Jim Adkins, vice president of recreational and vocational categories at Amazon, commented: “We are thrilled to have Peloton products available for our customers in Amazon stores.
“Peloton is all about bringing their community and energising fitness routines into the home.
“With Amazon’s convenient shopping experience, we hope to further that mission by providing customers with high quality, innovative products to take their health and fitness to the next level.”
The Peloton Bike will be available for delivery to most of the US, with purchasers given the option of assembling it themselves, or having it done for them, for free, by a specialist.
Peloton’s sales boomed during 2020 and early 2021 as lockdowns introduced by governments in response to the coronavirus pandemic in key markets including the US, Germany and the UK caused gyms to close, with people instead looking for ways to exercise at home.
Sales slumped however once restrictions were lifted and the company has since been forced to shelve plans to make its bikes in the US instead of Taiwan where production is handled by a contractor, and it has also laid off staff and has announced closure of some showrooms.
> Peloton stops making bikes in US as shares hit all-time low
News of the tie-up with Amazon saw the Nasdaq-listed company’s shares jump 20 per cent to 13.44 cents yesterday – but that is still well under a tenth of their all-time high of 162.72 cents, reached on Christmas Eve last year.
> SoulCycle trolls Peloton by offering users free classes – provided they trade in their bikes
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