10 Mar 2021
Peloton tackles Australian market – continues global expansion
BY Tom Walker
Peloton is launching in Australia, marking the brand's entry to the Asia Pacific region.
The launch, set to take place during the second half of 2021, will see the indoor cycling giant offering consumers its original Peloton Bike, the Peloton Bike+ and the Peloton App.
In preparation, Peloton is setting up physical retail showrooms across key Australian cities, including Sydney and Melbourne, as it did when it launched in the UK.
The interactive showrooms will provide an opportunity for consumers to experience Peloton firsthand and learn more about the live studio experience they can have at home.
Pricing will be set to similar levels to those in other countries with te Peloton Bike costing AU$2,895 while those wanting the Bike+ will need to fork out AU$3,695. An All-Access Membership will cost AU$59 per month.
Kevin Cornils, MD of Peloton's international operations, said: "Health, fitness and sport is a central part of Australians' DNA, which is why it was a natural decision to launch Peloton in Australia as our first foray into the Asia Pacific region.
"Our global growth is fuelled by our passionate, growing community of over 4.4 million members who choose Peloton as their go-to fitness solution, anytime, anywhere."
Peloton has benefited from the pandemic-driven boom in at-home fitness, as consumers, locked out of gyms, have looked for alternative ways to exercise over the past year.
Shares in the company climbed 403 per cent during 2020, due to record sales during the pandemic, taking it to a market capitalisation around US$42bn.
At the end of 2020, the company – which finished its last financial quarter with US$2bn cash in the bank – announced plans to purchase commercial fitness giant, Precor, for US$420m, indicating a broadening of direction for the company.
One of the main purposes of the Precor deal – which is expected to complete in 2021 – is to provide Peloton with more manufacturing capacity and to meet the increased demand for its products.
Fit Tech sees this as being part of the development of big fit tech, as highlighted by editor, Liz Terry, in the latest issue of Fit Tech magazine.
Read more on this story in Fit Tech magazine on desktop here and on mobile here.
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