- Dick’s Sporting Goods will begin selling Peloton equipment, the companies announced Thursday morning.
- The partnership makes Dick’s the first brick-and-mortar retailer to carry Peloton equipment outside its namesake stores.
- Dick’s will carry Peloton Bike, Bike+, Tread and Guide, as well as accessories like mats and bike shoes.
Peloton will begin selling its bikes, treadmills and other products in Dick’s Sporting Goods stores, marking the struggling fitness equipment maker’s latest push to expand its customer base.
The collaboration will make Dick’s the first brick-and-mortar retailer outside of its namesake stores to carry Peloton equipment. Peloton had long been an exclusively direct-to-consumer business before it began selling its products on Amazon in August.
The companies do not yet have a launch date, but said they are aiming to have Peloton products in more than 100 Dick’s stores in time for the holiday shopping season. Dick’s has more than 700 stores in the U.S.
Dick’s will carry Peloton’s Bike, Bike+, Tread and Guide, a training system that uses a camera to track a person’s movements, as well as bike shoes and exercise mats, the companies announced Thursday. The products will be in specific Peloton displays and Dick’s employees will be trained to assist customers with them. Dick’s shoppers also will be able to order Peloton products online in stores for either delivery or pickup.
Peloton and Dick’s won’t vary in its product pricing, although Dick’s will not carry the recently announced $3,195 Peloton rowing machine, which is currently only available for preorder.
After enjoying a surge in demand during the pandemic, Peloton has been fighting more recently to expand its customer base and stem its losses. The partnership with Dick’s is the latest move under CEO Barry McCarthy’s turnaround plan. McCarthy, who succeeded co-founder John Foley in the top job in February, joined at a time of mass layoffs and other cost-cutting efforts.
McCarthy has focused on growing the company’s paid subscriber base and to oversee Peloton’s push into nationwide bike rentals, certified preowned equipment and the partnership with Amazon.
“This partnership [with Dick’s] is a natural fit for our brand and our Member acquisition goals,” said Jen Parker, Peloton’s senior vice president of global direct sales.
Fitness apparel maker Lululemon on Tuesday announced its Studio membership, a similar bid for recurring fitness subscribers. Studio subscribers will have access to online fitness studios through Mirror and the Mirror app, which the company acquired in 2020.
Source: Business - cnbc.com
