platoon rowing machine
Peloton is adding a line of rowing machines to its lineup as the company works on a restructuring to expand its customer base and return to profit.
The fitness machine maker said 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 fitness 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 on a restructuring in recent months.
Last month, the company reported higher losses and lower sales in its fiscal fourth quarter, marking its sixth straight quarter of losses. Peloton had said its goal is to break even cash flow on a quarterly basis in the second half of fiscal 2023.
The company also announced that it has partnered with Amazon to start selling its products at the e-commerce retail giant, a move that could help Peloton expand its customer base. The partnership is Peloton’s first foray outside of its core direct-to-consumer business.
Peloton has also been shaking its lead. A week ago, the company announced co-founder and former CEO John Foley, co-founder and chief legal officer Hisao Kushi, and director
Commercial Officer Kevin Cornils would leave the company as part of its transformation.
Foley had served as Peloton’s CEO for about 10 years before resigning in February.