Peloton to sell exercise bike, accessories on Amazon in U.S
2022.08.24 17:17
FILE PHOTO: A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, September 26, 2019. REUTERS/Shannon Stapleton//File Photo
(Reuters) -Peloton Interactive Inc said on Wednesday it would sell its exercise bike and other fitness accessories on e-commerce giant Amazon.com Inc (NASDAQ:AMZN)’s U.S. platform in a bid to prop up falling sales.
Shares of the fitness equipment maker rose 17% premarket, before paring some gains to trade 7.6% higher at $12.05.
The partnership marks the latest move by Peloton (NASDAQ:PTON) Chief Executive Barry McCarthy to cut losses and improve cash flow as people go back to working out at gyms in a post-pandemic world.
Until now, the company’s new products and accessories were sold on its own e-commerce site and in global showrooms.
The delivery of Peloton’s Bike, priced at $1,445, will be available to most of the United States, the company said in a statement. (https://
“Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand,” Chief Commercial Officer Kevin Cornils said.
Reuters reported in February that Peloton had drawn interest from potential buyers including Amazon.
