Please ensure Javascript is enabled for purposes of website accessibility

Peloton Expanding Into Australia

By Eric Volkman - Mar 8, 2021 at 9:10PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The country will be its first market in the Asia-Pacific region.

Peloton Interactive (PTON -2.30%) is going Down Under to find a new source of growth. The exercise bike and online classes specialist announced Monday that it is expanding to Australia, for its initial toe-in-the-water into the Asia Pacific region.

Australians wishing to get in shape and willing to fork over the money for Peloton's comparatively pricey goods will be able to buy both the Peloton Bike and the Peloton Bike+, the company's popular hardware items. The Peloton App and its many fitness classes will also be available to the nation's consumers. The products will be available both online, and in Peloton's retail showrooms in the country (locations include the cities of Sydney and Melbourne).

Peloton user during a class.

Image source: Peloton Interactive.

The launch is scheduled to occur in the second half of this year. Peloton did not get more specific. It also did not say whether it planned to introduce its wares elsewhere in the region.

"Health, fitness and sport is a central part of Australia's DNA, which is why it was a natural decision to launch Peloton in Australia as our first foray into the Asia Pacific region," Peloton quoted its managing director, international Kevin Cornils as saying.

For Australians, the Peloton Bike will retail for 2,895 Australian dollars ($2,224) and the Bike+ for AU$3,695 ($2,838), including taxes. Owners of those machines will be able to purchase All-Accesses Membership offered by the company for a monthly price of AU$59 ($45). 

The news wasn't enough to lift Peloton's stock into positive territory Monday, though. It sank by 3.6%, against the 0.5% slide of the S&P 500 index on the day.

 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Peloton Interactive, Inc. Stock Quote
Peloton Interactive, Inc.
PTON
$15.51 (-2.30%) $0.36

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
345%
 
S&P 500 Returns
119%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/16/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.