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Monday, February 26, 2024
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Peloton Moves Further Into Apparel Business

  • The connected fitness company is rapidly expanding beyond workout equipment.
  • Peloton Apparel arrives after years of collaborations with activewear brands.
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Peloton/Design: Alex Brooks

It’s time to start thinking of Peloton as more than a connected fitness company.

After years of collaborations with brands like Nike, Adidas, and Lululemon, it has officially launched its own private label activewear line, simply titled Peloton Apparel.

Peloton has been selling branded apparel in limited quantities online since 2014, but the new collection marks its most ambitious foray into the space yet.

  • Men’s, women’s, and gender-neutral items range from $15 to $118.
  • Last October, CEO John Foley said Peloton had sold 600,000 units of branded apparel in a single quarter.
  • At the time, he also said the company would “surprise people in apparel.”

VP of Apparel Jill Foley, John’s spouse, had been hinting at an expanded apparel business for a while now. In late 2020, she spoke about the need to “invest more” in apparel because items were “selling like hot cakes.”

Last month, the company posted a net loss of $313.2 million in its fiscal fourth quarter, which can be largely attributed to the negative impact of treadmill recalls.

Peloton still generated $937 million in revenue during Q4, a 54% increase year-over-year, but it was a 25.8% drop from the previous quarter’s $1.3 billion.

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