Business

Peloton and Adidas are working together on an exclusive apparel line

The new collection — labeled as adidas x Peloton SS21 — was designed with help from some of Peloton’s top cycling instructors, including Robin Arzón, Ally Love and Cody Rigsby.

Source: Peloton

Peloton and Adidas announced Thursday they’re working together to create a new line of athletic apparel and lifestyle gear, in inclusive sizes and unisex styles.

The collection was designed with help from some of Peloton’s top cycling instructors, including Robin Arzon, Ally Love and Cody Rigsby.

The merchandise, which includes shorts, hoodies, tees, crewnecks, sports bras and jogger pants, retails anywhere between $30 and $85. Sizes for the clothes go up to 2X, and unisex options are available. Beginning March 25, they’ll be for sale on both companies’ websites and in select Adidas and Peloton retail stores. The companies say it’s the start of an ongoing collaboration, with more to come.

“During a time where we are not able to be physically together, we have an incredible opportunity to help grow connected communities and continue to support people as they build their new fitness journeys at home,” said Aimee Arana, general manager of global training at Adidas, in a statement.

Beginning March 25, the new line will be on sale on Adidas’ website, Peloton’s website, and in select Adidas and Peloton retail stores.

Source: Peloton

Adidas is the latest clothing company to join Peloton’s roster of brand partners. In addition to manufacturing its own pieces, Peloton sells apparel and accessories made by Lululemon and Nike, and more niche players like Beyond Yoga and Spiritual Gangster, on its website.

Its apparel business is helmed by Jill Foley, the wife of Peloton founder and CEO John Foley. It has never been a strong revenue driver, but is seen as a way for the company to entice new sign-ups for its app-based membership via referral codes that offer clothing discounts. In the past, Peloton has noted that apparel sales are often offset by those referral discounts and other annual markdowns.

Peloton doesn’t break out its apparel sales. Instead, they’re folded into its connected fitness product division.

By working with partners like Adidas, Peloton stirs up more interest in its brand and gives its subscribers access to exclusive content. Peloton said it will be holding a series of on-demand classes beginning Thursday that are in celebration of the Adidas launch, as well as a special live class on March 25.

Other at-home fitness equipment manufacturers have taken a similar approach. The athleisure brand Fabletics, for example, has a partnership with rowing machine Hydrow. It designs and produces all Hydrow apparel, and Hydrow’s trainers exclusively wear Fabletics during workouts. SoulCycle, the New York City-based fitness company owned by Equinox, also collaborates with Lululemon and Nike on limited, SoulCycle-branded gear.

Peloton shares are up more than 320% over the past 12 months, but have fallen almost 30% year to date, following a huge run-up for much of 2020. The company has a market cap of more than $30 billion.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button