Peloton added some optimism to a gloomy week by previewing the upcoming significant expansion of its selection of home workout programs. The connected fitness business announced the impending introduction of a home rowing machine in a blink-and-you’ll-miss-it moment. That appears to be all we’re getting for the time being, other from the brief glance and a “coming soon” image. From the brief photos, it appears that the rower matches the company’s current bikes and treadmills in terms of aesthetics. It looks to be a sit-down exercise machine made entirely of black, equipped with a typical resistance cable and a sizable screen for watching Peloton’s workout programs.
As part of its two-day “Member Event,” the system was briefly showcased. Peloton will introduce its best-in-class exercise experience to the world of rowing, according to the firm. Peloton is thrilled to have this entire body exercise in its potent arsenal of content since it combines cardio and strength training. Though it is likely that the company’s ongoing financial issues prevented an earlier release, the product has been speculated since last year. On a recent investor call, the company’s new CEO, Barry McCarthy, described the company’s current inventory concerns, noting.
Managing inventories has been a concern for the balance sheet. We have too much inventory for the business’s present run rate, and because it has cost us far more money than we anticipated, we have had to reconsider our capital structure (more on this in a moment). Since the inventory will eventually be sold and there is no danger of obsolescence, this is essentially a cash flow timing problem rather than a structural one. For a business that is having trouble moving its existing inventory, launching a totally new product line is a dangerous decision. Leaving money concerns aside, the Peloton brand is still strong in this market, and the introduction of a highly desired piece of gear may undoubtedly increase uptake.
After fitness bikes and treadmills, rowing machines are a third, increasingly popular alternative for total-body exercises. Businesses like Hydrow and Ergatta have been working hard to fill the gap that Peloton has so far left in the home exercise enthusiast market. Along with the hint about the rowing, Peloton also revealed a host of new features, such as Invite Friends, which enables users to arrange group workouts right inside the app. In contrast, Just Workout enables users to build up their outside adventures by tracking non-Peloton running, cycling, and walking in the app. Just Workout was “consistently a highly requested feature,” according to the business. The business also made plans to build Peloton Studios for member workouts in New York and London.
