Peloton to sell its bikes on Amazon in bid to reverse slump



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FILE - A Peloton logo is seen on the company's stationary bicycle on Nov. 19, 2019, in San Francisco. In a statement  on Wednesday, Aug. 24, 2022, Peloton announced that their high-end exercise bikes and other gear will now be available for purchase on Amazon in the U.S., a partnership aimed at boosting the fitness company's sales that have languished since the easing of pandemic lockdowns. (AP Photo/Jeff Chiu, File)

FILE – A Peloton brand is seen on the corporate’s stationary bicycle on Nov. 19, 2019, in San Francisco. In a press release on Wednesday, Aug. 24, 2022, Peloton introduced that their high-end train bikes and different gear will now be obtainable for buy on Amazon within the U.S., a partnership geared toward boosting the health firm’s gross sales which have languished for the reason that easing of pandemic lockdowns. (AP Picture/Jeff Chiu, File)

AP

Peloton’s high-end train bikes and different gear will now be capable to be purchased on Amazon within the U.S., a partnership geared toward boosting the health firm’s gross sales which have languished for the reason that easing of pandemic lockdowns.

“We want to meet consumers where they are, and they are shopping on Amazon,” Kevin Cornils, Peloton’s chief business officer, mentioned in a press release Wednesday.

The collaboration is Peloton’s first with one other retailer. Earlier than, its merchandise have been offered solely by its web site, bodily showrooms and different channels.

And it comes after the corporate earlier this month mentioned it was shedding jobs, shifting its supply work to third-party distributors and considerably lowering the variety of shops it has in North America.

The information of the Amazon deal despatched shares of New York-based Peloton Interactive Inc. hovering 20% Wednesday. They’re nonetheless down about 88% within the final 12 months.

Merchandise obtainable on the launch on Amazon will embody Peloton’s unique bike — listed at $1,445 — its strength-training “Guide” gadget, in addition to its exercise mat, dumbbells and glass water bottle.

The corporate finest recognized for its interactive stationary bikes noticed its gross sales growth through the pandemic, but it surely has struggled to take care of excessive demand as COVID-19 vaccines grew to become extra extensively obtainable and homebound customers began to return to the fitness center.

Amid these challenges, it sought to chop prices and scale back its working footprint whereas ramping up costs on a few of its standard merchandise. Final month, it mentioned it could outsource manufacturing for its stationary bikes and treadmills.

The corporate says bike supply will likely be obtainable to a lot of the U.S. As a part of the partnership, prospects can get an knowledgeable to assemble their bikes, the corporate mentioned.

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