Peloton Inks strikes deal with Amazon to sell apparel, footwear and accessories – Footwear News
Peloton is teaming up with Amazon in a new deal to sell products through the e-commerce giant.
The fitness tech company will now sell its cycling bike, guide, apparel, shoes and accessories through Amazon’s website in the United States. Peloton’s products, including its $1,445 signature cycling bike, were previously sold exclusively through company-owned stores and online channels.
Platoon shares rose more than 16% on Tuesday morning after the announcement.
The move comes after months of challenges for the connected fitness brand, including rising costs and a slowdown in demand as more people return to gyms and live classes. The company’s former CEO, John Foley, announced in February that he would take on a new role as the company’s executive chairman, with former Spotify chief financial officer Barry McCarthy taking over as chief executive. . The company also announced layoffs of around 2,800 employees worldwide as part of a plan to “position Peloton for long-term success”.
In August, Peloton announced further job cuts, store closures and price increases on some of its equipment.
The new partnership with Amazon marks another effort to turn things around and expand Peloton’s reach beyond its DTC channels in search of potential new members.
“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 a statement. “We want to meet consumers where they are and where they shop 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.
In addition to the bike and its $295 strength training guide, Amazon will also offer Peloton cycling shoes for men and women, a bike mat, lightweights, dumbbells, a water bottle and more. ‘accessories. In apparel, the assortment will include sports bras, tank tops, leggings, shorts, hoodies, joggers and hats.
In March, Adidas and Peloton announced a partnership, which has resulted in multiple clothing collaborations since then.
“We are thrilled to have Peloton products available to our customers in Amazon stores,” said Jim Adkins, vice president of recreational and professional categories at Amazon, in a statement. “Peloton is all about bringing their community and energizing home fitness routines. Through Amazon’s convenient shopping experience, we hope to continue this mission by providing customers with innovative, high-quality products to take their health and fitness to the next level.