Peloton invigorated the U.S. indoor cycling market with its sleek bikes and connected programming. Now the fitness giant announces plans for further global expansion, starting with the U.K. and Canada.
This fall, Peloton will sell its cult-favorite $1,995 bike (but not its latest addition–the $3,995 Peloton Tread) in London and Toronto. Additional European markets are slated for 2019.
“Over 60% of the $100+ billion dollar global fitness market is outside of the United States, and the U.K. is the world’s second-largest market,” Peloton managing director Kevin Cornils said in a statement. “We were increasingly hearing from potential members from the U.K. and Canada who were asking for the bike, so we listened and decided to launch the full offering, including retail showrooms, to bring them the same best-in-class experience as we’ve been building out in the U.S.”
The move will spur further growth for the company, which boasts over 1 million subscribers and 32 showrooms in the United States. Last May, Peloton raised $325 million Series E Financing, one of the largest digital-health investments of 2017.
As we last reported, with the addition of a new monthly financing program to make its products more affordable to the masses, Peloton may very well corner the home exercise equipment market.
“We will have a third product in the next year or two–we’re already working on that,” founder and CEO John Foley told Fast Company in January. “And there will be more platforms to allow you to get your heart rate up.”