NEW YORK (AP) — Peloton plans to sell its deluxe stationary bike at Costco this holiday season as the struggling connected-exercise company seeks to
NEW YORK — Peloton plans to sell its deluxe stationary bike at Costco this holiday season as the struggling connected-exercise company seeks to broaden its customer base.
“The Costco brand is incredibly powerful and respected in the U.S. and abroad,” Dion Camp Sanders, Peloton’s chief emerging business officer, said in a news release. “Costco members know they are shopping for high quality products from trusted brands with the best value.” Once marketed as an exclusive, aspirational brand, Peloton began rebranding itself to be seen as more accessible as it grappled with falling sales and a plummeting stock price. In August 2022, the company made its exercise bikes and other gear available for purchase on Amazon in the U.S.
Costco Chief Financial Officer Gary Millerchip said on an earnings call in September that about half of the retailers new members this year were under 40 years old.
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