US Business

Peloton adds $3,195 rowing machine to fitness machine lineup

Rowing machine Peloton

Credit: Peloton

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 profits.

The fitness equipment maker said Tuesday it is launching the 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 membership to Peloton classes and programs for $44 a month, joins the Peloton Bike, Peloton Bike+, Peloton Guide and Peloton Tread lineup.

Peloton Row, which has reportedly been in development for some time, comes as the company has been working on a restructuring in recent months.

Last month, the company reported rising losses and declining sales in its fiscal fourth quarter, marking its sixth straight quarter of losses. Peloton said it aims to break even cash flow quarterly in the second half of fiscal 2023.

The company also announced that it is partnering with Amazon to start selling its products at the giant e-commerce retailer, which could help Peloton expand its customer base. This partnership is Peloton’s first step outside of its core consumer-facing business.

Peloton is also changing its lead. A week ago, the company announced co-founder and former CEO John Foley, co-founder and general counsel Hisao Kushi and chief
Chief Commercial Officer Kevin Corniels will leave the company as part of its transformation.

Foley was Peloton’s CEO for about 10 years before resigning in February.

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