Peloton punctuated a tough week with a bright spot, teasing the next big addition to its home training offering. In a moment you’ll miss, the connected fitness brand confirmed the upcoming release of a home rowing machine. Aside from the sneak peek and a “Coming Soon” graphic, that’s apparently all we’re getting for now.
From the quick shots, the rower is an aesthetic perfect match for the company’s existing bikes and treadmills. It appears to be an all-black sit-down machine with a standard resistance cord and a large display for viewing Peloton’s fitness classes.
The system was briefly presented as part of the two-day “Member Event”. The company states, “Peloton will bring its world-class fitness experience to the world of rowing! Combining cardio and strength, Peloton is excited to add this total body workout to its powerful arsenal of content.”
The product has been rumored since last year, though it’s likely the company’s ongoing financial struggles derailed an earlier release. Incoming CEO Barry McCarthy detailed the company’s ongoing inventory issues at a recent investor call, noting:
The balance sheet challenge was inventory management. We have too much for the company’s current run rate, and this inventory has consumed a tremendous amount of cash, more than we anticipated, prompting us to reconsider our capital structure (more on that in a moment). Fortunately, the risk of obsolescence is negligible, and we believe the inventory will eventually be sold, so this is primarily a cash flow timing issue, not a structural issue.
Introducing an entirely new product line is a risky move for a company struggling to move old stock. Financial woes aside, of course, the Peloton brand is still a strong brand in this category, and the addition of a much-requested piece of hardware could certainly spur adoption.
Along with fitness bikes and treadmills, rowing machines are an increasingly popular third option for full-body workouts. Companies like Hydrow and Ergatta are pushing to fill a large segment of home fitness enthusiasts that Peloton has so far left on the table.
Along with the Rower Tease, Peloton also announced a number of new features, including Invite Friends, which allows users to schedule workouts together within the app. Just Workout, on the other hand, allows running, cycling, and walking outside of the peloton to be tracked in the app, allowing users to total up their outdoor outings. The company says Just Workout is “consistently one of the most requested features.”
The company also announced plans to open its Peloton Studios in New York and London for member training.