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Peloton (PTON, $7.05) will begin selling its bikes, treadmills and other products in Dick’s Sporting Goods stores (DKS, $112.95) marking the struggling fitness equipment maker’s latest push to expand its customer base. The collaboration will make Dick’s the first brick-and-mortar retailer outside of its namesake stores to carry Peloton equipment.
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Under the arrangement, Dick's will sell Peloton's hardware products and select accessories via branded fitness shops inside more than 100 Dicks US retail locations. The partnership will also include Peloton having a presence on the Dick's e-commerce platform.
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The rollout is slated to launch early in the holiday season. Notably, Dick's will be the only retailer to carry the selection of Peloton's connected fitness equipment. Peloton management called Dick's a natural fit for the brand.
Why it matters
After enjoying a surge in demand during the pandemic, Peloton has been fighting more recently to expand its customer base and stem its losses. The partnership with Dick’s is the latest move under CEO Barry McCarthy’s turnaround plan. McCarthy, who succeeded co-founder John Foley in the top job in February, joined at a time of mass layoffs and other cost-cutting efforts.
