The peloton is punctuated hard week with a bright spot, teasing the next major addition to their home exercise offerings. In the blink of an eye, the associated fitness brand confirmed the upcoming launch of the home rowing machine. Aside from a quick glance and a “soon” graphic, that’s apparently all we’re getting at the moment.
Judging by quick shots, the rowing machine aesthetically matches the company’s existing bikes and treadmills. It appears to be an all black sit-down machine with a standard resistance cable and a large display for viewing Peloton fitness courses.
The system was briefly introduced as part of a two-day “membership event”. The company notes: “Peloton will bring its best-in-class fitness experience to the world of rowing! Combining cardio and strength, Peloton is excited to add this full body workout to their powerful content arsenal.”
Rumors about the product have been floating around since last year, although it seems that the company’s ongoing financial difficulties have prevented an earlier release. New CEO Barry McCarthy outlined the company’s inventory issues in a recent call to investors, noting:
The balance problem was inventory management. We have too much for the current speed of the business and these inventories are consuming a huge amount of cash, more than we expected, forcing us to rethink our capital structure (more on that in a moment). Fortunately, the risk of obsolescence is negligible and we believe inventory will eventually be sold, so this is primarily a cash flow timing issue rather than a structural issue.
Launching an entirely new product line is a risky move for a company trying to get rid of old stock. Of course, financial issues aside, the Peloton brand is still strong in this category, and the addition of much sought-after equipment could certainly boost distribution.
Rowing machines are an increasingly popular third option for full-body workouts after fitness bikes and treadmills. Companies like Hydrow and Ergatta have been looking to fill the large segment of home fitness enthusiasts that Peloton has left on the table so far.
In addition to teasing rowers, Peloton also announced a host of new features, including Invite Friends, which allows users to schedule workouts together on the app. Meanwhile, Just Workout allows non-Peloton running, cycling, and walking to be tracked in the app, so users can add their outdoor excursions. The company says Just Workout has been “the most requested feature all the time.”
The company also announced plans to open its Peloton Studios in New York and London for members to train.
Credit: techcrunch.com /