In just a few years, Peloton has transformed the old-school idea of a stationary bike workout into a fast-growth business worth more than a $1 billion, with a cult following on track to surpass 250,000 paying customers.
The Peloton bike company plans to unveil its next product: A treadmill
The announcement could come as soon as January’s Consumer Electronics Show.
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.
Now the New York City-based startup hopes to do something similar with another traditional workout machine: The treadmill.
Peloton has quietly been developing its own version of a treadmill and is planning to unveil it as soon as January’s Consumer Electronics Show in Las Vegas, according to a person familiar with the plan.
It is not clear how the machine will differ from others on the market, but the company is known for offering both live and taped workout classes on screens attached to its bikes.
A Peloton spokesperson would not confirm or deny the plans for the treadmill launch, but released a statement that read: “Peloton is an innovation company at its core and will continue to develop new platforms in the fitness space in the coming years.”
Peloton charges around $2,000 for its bike and a $39 monthly subscription for access to classes that feature high-energy instructors and can be sorted by duration, experience level and music genre.
The company generated $170 million in revenue last year — only its third year in business selling bikes — and Peloton CEO John Foley said earlier this year at Recode’s Code Commerce event that his company plans to at least double its business in 2017. Peloton also operates more than two dozen retail showrooms.
Here’s Foley’s presentation from the September Code Commerce event:
This article originally appeared on Recode.net.
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