Shares of Peloton Interactive (PTON -0.23%) are soaring 18.1% at 10:38 a.m. ET on Wednesday after the maker of connected fitness equipment announced it would be selling its bikes, apparel, and accessories through a Peloton storefront on Amazon (AMZN 3.55%).
Previously, Peloton gear was only available through its own website or in the handful of retail stores it operated, but the market seems to believe reaching a broader consumer audience through Amazon will help lift sales.
The storefront will only offer Peloton's basic Bike, which sells for $1,445, while the upscale Bike+, which goes for $2,495, will be sold on its own website. Other gear available will include the Guide, an interactive strength training aid; workout mats; shoes; and dumbbells.
Peloton Chief Commercial Officer Kevin Cornils said in a statement: "We want to meet consumers where they are, and they are shopping on Amazon. Providing additional opportunities to expose people to Peloton is a clear next step, as we continue to generate excitement for our unparalleled connected fitness experience."
It's doubtful the Amazon storefront is going to turn Peloton Interactive around. Peloton is not a small, unknown business; consumers could just as easily head over to the equipment maker's website and order up a pricey stationary bike.
The thought that merely the appearance on the e-commerce giant's platform will magically transform the business seems misguided at best. Certainly having a storefront can't hurt, as it's always a good idea to reach potential customers wherever they happen to be shopping, but it seems a stretch to think it will be a transformative event for Peloton as the stock's reaction to the news suggests.