Peloton adds $3,195 rowing machine to fitness equipment lineup

0
7

Peloton rowing machine

Courtesy: Platoon

Peloton adds rowing machines to its lineup as the company undergoes a restructuring to expand its customer base and return to profit.

The fitness equipment maker said Tuesday it is launching Peloton Row, which starts at $3,195 and is now available for pre-order on its website. Deliveries are expected to begin in December.

The rowing machine, which also requires a $44 per month membership to Peloton’s exercise classes and programs, joins the lineup of Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Guide, a training system that uses a camera to track its movements. track of a person.

ALSO READ  One-way flights from Moscow to Dubai cost nearly $5,000 as Russians flee mobilization call

Peloton Row, which has reportedly been in the works for a while, is because the company has been going through a restructuring process in recent months.

Last month, the company reported increasing losses and declining sales for its fiscal fourth quarter, marking its sixth consecutive quarter of losses. Peloton had said it aims to achieve quarterly breakeven cash flow in the second half of fiscal 2023.

ALSO READ  Cramer's lightning round: stick with Ford Motor over Stellantis

The company had also announced it was partnering with Amazon to start selling its products on the giant e-commerce retailer, a move that could help Peloton broaden its customer base. The partnership is Peloton’s first step outside of its core direct-to-consumer business.

Peloton has also shaken up his leadership. A week ago, the company announced co-founder and former CEO John Foley, co-founder and Chief Legal Officer Hisao Kushi, and Chief
Commercial Officer Kevin Cornils would leave the company as part of the transformation.

ALSO READ  Germany nationalizes energy giant Uniper as Russia cuts gas supplies

Foley was Peloton CEO for about 10 years before stepping down in February.