Peloton Row, the company's much-hyped rowing machine, has finally hit the market for the handsome sum of $3,195
Presales are now available for Peloton's much-awaited rower.
The Peloton Row costs $3,195, with orders expected to ship in early December.
The maker of bikes and treadmills was a pandemic darling but has since been hit by recalls and falling sales.
Connected-fitness company Peloton has finally unveiled details of its much-awaited rower.
The Peloton Row is now available for presale at $3,195, with orders expected to ship in early December. There are already rowers available for shoppers to try out at 18 of Peloton's retail stores across the US.
Peloton announced that it was launching a rower in May, but since 2020 some news outlets had been reporting that it was in the works.
The rower is just under eight feet long with a 23.8 inch high-definition touchscreen that can turn and both front- and rear-facing speakers. Peloton says it has electronically-controlled resistance which makes the machine quiet and smooth to row with.
To access Peloton's instructor-led classes, users also have to subscribe to the company's software, which costs $44 a month. Users get a personalized breakdown of their form after each class, as well as access to metrics like output, distance, pace, and stroke rate throughout their workouts.
Delivery and setup is included in the price for people living in most locations. Like Peloton's other products, the rower comes with a 30-day home trial so buyers can return it and get a refund if they don't like it.
The Row is also available with accessories such as a mat, water bottle, and dumbbells for a higher price. The most expensive packages comes in at $3,570.
The 156.5-pound rower can be stored vertically and comes with an upright wall anchor, which Peloton advises customers to get professionally installed.
Peloton also released a video ad for the product showing what it's like to use and highlighting some of its features. On its website, the company has also added videos showing that the Row classes and bootcamps will look like, as well as a sample of its scenic mode.
Peloton was founded in 2012 and began shipping bikes in 2014, quickly developing a cult following and adding treadmills to the mix. It became one of the darlings of the pandemic as home-fitness companies boomed during waves of lockdown, despite the huge demand leading to long delivery times and the company having to recall pedals on around 27,000 bikes after some users were injured.
But Peloton's woes really started in March 2021, when a child died in an accident with one of its treadmills. After clashing with regulators, the company recalled all treadmills that May and stopped their sale and distribution.
After the string of real life incidents, Peloton was included in storylines in two TV shows. Characters in both the "Sex and the City" reboot and "Billions" died while using or after using Peloton bikes.
The reopening of the economy, which allowed people to return to gyms and group sports, made Peloton's sales dive even further.
In February, the company announced huge cost-cutting measures, including cutting about 20% of its workforce and scrapping plans to build its own factory. CEO and cofounder John Foley also announced he would step down. The company announced further rounds of layoffs in July and August, totaling around 1,400 workers.
Revenues from hardware sales fell 55% between March and June compared to the same period in 2021, and subscription fees now make up more than half its revenue. The company reported a $1.2 billion operating loss for the quarter.
Manufacturers of connected-fitness rowers that Peloton will be competing with include Ergatta, Hydrow, and NordicTrack. Despite being premium products, their rowers are significantly cheaper than Peloton's.
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