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Peloton launched its much-anticipated rowing machine as it seeks to reverse a long-term slide.
The Peloton Row, which starts at $3,195, is available for preorder with deliveries slated to begin in December. The price tag places the Row near the top of the rowing machine market.
“It is truly a premium experience, and it’s priced as a premium experience,” said Peloton co-founder and chief product officer Tom Cortese.
- The rower requires a monthly $44 membership to Peloton’s exercise classes and programs. Users who already have a Peloton Bike, Tread, or Guide may use a single membership across the devices.
- Peloton is touting the machine’s real-time feedback, quiet operation, and stowability (using an included wall mount).
Rowing Upstream
The company is hoping the Peloton Row can reverse its fortunes after a challenging year.
Earlier this month, it announced that co-founder and former CEO John Foley and co-founder Hisao Kushi would be resigning from their respective roles as executive chairman and chief legal officer.
Last month, Peloton said it would eliminate 784 jobs, close brick-and-mortar locations, and raise prices on its most expensive products. The company is outsourcing its delivery services and adjusting products so that users may assemble them without assistance.
Peloton reported $678.7 million in revenue for the fiscal quarter ending June 30, down 28% year-over-year. In August, Peloton said it would submit its annual 10-K filing after the SEC deadline due to complications related to its restructuring effort.
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