Platoon adds a line of rowers to its lineup as the company restructures to expand its customer base and return to profit.
The fitness equipment maker announced Tuesday that it’s launching 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 rower, which also requires a $44 per month subscription to Peloton classes and exercise programs, joins the lineup of Peloton Bike, Peloton Bike+, Peloton Guide and Peloton Tread.
Platoon Row, wwhich would have been under construction for some timee, comes as the company has gone through a restructuring in recent months.
Last month, the company reported increasing losses and lower sales for its fourth fiscal quarter, marking its sixth consecutive quarter of losses. Peloton had said it was aiming to break even in cash flow on a quarterly basis in the second half of fiscal 2023.
The company had also announced that it had partnered with Amazon at start selling their products on the e-commerce giant, a move that could help Peloton expand its customer base. The partnership is Peloton’s first foray outside of its core direct-to-consumer business.
Peloton has also shaken up its leadership. A week ago, the company announced co-founder and former CEO John Foley, co-founder and chief legal officer Hisao Kushi, and director
Commercial Officer Kevin Cornils would leave the company as part of its transformation.
Foley had been CEO of Peloton for about 10 years before resigned in February.