- Peloton is launching a line of rowing machines, with pricing starting at $3,195.
- The Peloton Row machines are now available for pre-order, and the company expects to start delivering the machines by December.
- The new product comes as Peloton has been executing a restructuring plan as losses have mounted for the company.
Peloton is adding a line of rowing machines to its lineup as the company works through a restructuring to expand its customer base and return to a profit.
The fitness machine maker said on Tuesday it’s 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-a-month membership to Peloton’s exercise classes and programs, joins the lineup of Peloton Bike, Peloton Bike+, Peloton Guide and Peloton Tread.
Peloton Row, which had reportedly been in the works for some time, comes as the company has been working through a restructuring in recent months.
Last month, the company reported widening losses and declining sales for its fiscal fourth quarter, marking its sixth consecutive quarter of losses. Peloton had said it aims to reach break-even cash flow on a quarterly basis in the second half of fiscal 2023.
The company had also announced it partnered up with Amazon to begin selling its products on the behemoth ecommerce retailer, a move that could help Peloton broaden its customer base. The partnership is Peloton’s first foray outside of its core direct-to-consumer business.
Peloton has also been shaking up its 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 be leaving the company as part of its transformation.
Foley had served as Peloton’s CEO for about 10 years before he stepped down in February.
Source: Business - cnbc.com
