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Peloton, a maker of spinning bikes and treadmills, now operates about 60 showrooms and says it intends to open roughly 100 more this year.
While Peloton uses the Internet to connect to its existing customers, it is relying on physical stores to connect to its future clientele, notes Yahoo Finance.
“Retail is enormously strategic for us,” Peloton President William Lynch told Yahoo Finance. “We are huge believers in retail.”
“Retail is enormously strategic for us. We are huge believers in retail”
The company, which recently opened a showroom in London, offers $39-per-month memberships that enable customers to connect with Peloton classes over the Internet from their homes. These bikes cost $2,300 apiece, while a treadmill sells for $4,300.
Peloton has reportedly chosen JPMorgan and Goldman Sachs to help ferry the company through an IPO.
By Edmund Mander
Director, Editor-In-Chief/SCT
