While fitness enthusiasts have been forced to stay home due to lockdowns, and are faced with gym closures and social distancing rules, at-home fitness has become an important part of the active life. That's been great news for Peloton Interactive (NASDAQ:PTON), which makes home gym equipment and sells subscriptions to workout classes.
To keep the momentum going, the company announced two new job creations in the marketing department. Both have senior vice president status and are meant to establish brand awareness in global markets.
Getting its name out there
Dara Treseder will head up global marketing, which is meant to increase the company's brand presence globally. She was most recently chief marketing officer at Carbon, and prior to that she worked marketing positions at General Electric (NYSE:GE), Goldman Sachs (NYSE:GS), and Apple (NASDAQ:AAPL).
Karina Kogan is moving into global product marketing, which focuses more directly on marketing Peloton products. Prior to this promotion, she worked on the Peloton app.
Peloton had a fantastic third quarter with revenue gaining 66% over 2019 to $524.6 million, and it's looking to increase its share of what it sees as a $600 billion global fitness industry. CEO John Foley said, "We believe the current environment of social distancing and working from home is permanently influencing consumer behavior." He said there are 90 million global memberships, and Peloton has 2.6 million, giving it plenty of room to grow. Subscription growth is typically three digits. Peloton shares have risen 136% year to date.