Peloton
on Wednesday said it’s relaunching its product assortment, introducing a commercial equipment line and raising prices for both subscriptions and hardware as the company looks to reignite growth ahead of the holiday shopping season.
The revamped assortment includes better audio, processors and WiFi across all of its machines. Its refreshed plus line will feature an AI-powered tracking camera, speakers, a 360-degree swivel screen and hands free control, among other new features.
“The products are called the cross training series because we’re trying to help our members … understand that the right regimen for everyone, right routine for everyone is a mix of cardio and strength, and also investing in practices like yoga and meditation,” CEO Peter Stern told CNBC in an interview. “And so the products were designed, regardless of which one you buy, to facilitate that type of multi-disciplinary approach to wellness.”
The assortment-wide relaunch, the first since the company’s founding, comes as Peloton looks to return to sales growth after spending the last couple of years fixing its cost structure and staving off financial ruin. Now that the company has refinanced its debt and is again generating free cash flow, it is now focusing on its assortment in the hopes a better line up can bring in a wider swath of members.
