Peloton has entered into its first-ever brick-and-mortar partnership.
The high-tech fitness equipment brand will sell its bikes, treadmills and other products in branded fitness shops inside more than 100 Dick’s Sporting Goods stores and on Dick’s e-commerce site. The rollout is slated to launch early in the holiday season.
Dick’s employees will be trained by Peloton to assist customers with their purchases. Deliveries will be fulfilled via Peloton’s traditional in-home delivery and setup service. Select items will be available for in-store carryout.
“Peloton is a powerful brand with a very loyal following and a product mix that’s compelling for any fitness enthusiast,” said Will Swisher, senior VP, merchandising hardlines, Dick’s Sporting Goods. “Being able to offer Peloton to our athletes – and to provide an in-store experience for them to see and test products – gives us and Peloton extended reach into the fitness market
Outside of Peloton’s owned sales channels, Dick’s will be the only physical retailer to carry the company’s connected fitness equipment. It’s the second collaboration for Peloton, which is struggling to regain its pandemic-momentum as revenues have fallen along with COVID-19 restrictions and consumers return to out-of-home activities. The company posted losses of more than $1.2 billion in its most recent quarter as revenue plunged 28% to $678.7 million.
Peloton said its partnership with Dick’s will allow it to reach new audiences, expand its total addressable market, drive member growth, expand its U.S. geographic footprint and complement its company-owned store portfolio. This is Peloton's second partnership under Barry McCarthy, who was tapped as CEO February 2022, with founder and former CEO John Foley transitioning to the role of executive chairman. In August, the company began selling its products on Amazon.
Dick’s will carry Peloton’s Bike, Bike+, Tread and Guide, a training system that uses a camera to track a person’s movements. It will carry accessories such as bike shoes and exercise mats.
“This partnership is a natural fit for our brand and our Member acquisition goals,” said Peloton senior VP of global direct sales Jen Parker. “Dick’s is a consumer-beloved brand with a large, incremental customer base, offering tremendous upside for us to reach broader audiences and attract potential new members. Retail remains a critical touchpoint, and we want to provide the in-store experience that many current and prospective members still covet.”
Based in Pittsburgh, Dick’s operates more than 850 namesake, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone! and Warehouse Sale stores. It also owns and operates the Dick’s House of Sport and Golf Galaxy Performance Center banners.