Peloton said Wednesday it has reached a deal with Amazon to sell exercise equipment, accessories and apparel on the retailer’s U.S. website as the exercise bike maker seeks to boost sales.
The deal is Peloton’s first attempt to sell its products outside of a direct-to-consumer sales model, such as e-commerce sites and physical showrooms. Products available from Amazon include his Peloton Bike, priced at $1,445, and his Peloton Guide, a workout equipment that sells for $295. The company’s more expensive Bike+ machines and Tread treadmills aren’t available on Amazon, but you can find them on Peloton’s site.
“This collaboration will allow Peloton to expand its distribution,” the company said. said in a statement.
A winner in the early months of the pandemic, when people were confined to their homes, the peloton has struggled since Covid restrictions eased and people started feeling more comfortable returning to the gym.
Earlier this month, Peloton announced plans to cut about 784 jobs by increasing prices on some products, closing stores and eliminating warehouses. The move was part of his $800 million cost-cutting strategy by the company’s new CEO, Barry McCarthy, the former chief financial officer of Spotify and Netflix, who succeeded John Foley in February.