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Business

Peloton adds a $3,195 rowing machine to its line of exercise machines




Peloton rowing machine

Item: Peloton

Peloton is adding a number of rowing machines to its lineup as the company works through a restructuring to expand its customer base and return to profitability.

The exercise machine maker said Tuesday it is launching the Peloton Row, which starts at $3,1[ads1]95 and is now available for pre-order on its website. Deliveries are expected to start 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 through a restructuring in recent months.

Last month, the company reported widening losses and falling sales for the fourth quarter, marking its sixth straight 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 that it was partnering with Amazon to start selling its products on the massive e-commerce retailer, 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 shaken 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 leave the company as part of the transformation.

Foley had served as Peloton’s CEO for about 10 years before stepping down in February.



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