Peloton Interactive Inc said on Thursday it will start selling its treadmills, exercise bikes and other fitness accessories in Dick's Sporting Goods Inc stores as it looks to expand its customer base to lift sagging sales.
The partnership will makes Dick's Sporting Goods the first brick-and-mortar retailer outside Peloton's own sales channels to sell its equipment.
The development comes days after Dara Treseder, Peloton's global marketing head, said she was leaving the company.Following the partnership, Peloton's products will be available in more than 100 Dick's Sporting Goods stores and its e-commerce platform, according to the statement.The collaboration with Dick's is the latest under Peloton Chief Executive Barry McCarthy's turnaround plan to attract more customers, cut losses and improve cash flow.
The shift in sales strategy reflects the exercise bike maker's efforts to combat a slowdown in sales from pandemic highs. Peloton's exercise bikes, treadmills and connected classes were all the rage among fitness enthusiasts during COVID-19 lockdowns, but demand nosedived after restrictions lifted and people returned to gyms.
Last month, the company struck a partnership with Amazon.com Inc to sell some of its fitness equipment on the online retailer's U.S. platform.Reporting by Aishwarya Nair in Bengaluru; Editing by Shounak Dasgupta
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