Peloton Reportedly Sold 600K Pieces of Branded Apparel Last Quarter, Announces Adidas Collaboration
Peloton looks like it’s increasing its branded apparel offering with an Adidas partnership in the works. Last year, Peloton created apparel capsules with athleticwear companies Athleta and Hill City, and before that introduced its own branded apparel.
According to Joe Vennare, author and co-founder of fitness site fitt.co, Peloton CEO John Foley said the company sold 600,000 units of branded apparel last quarter alone. Peloton appears to have fully bought-in to apparel, making it a cornerstone of its product offering to complement its exercise bikes. It should only reinforce that with the Adidas collaboration.
Partnering with a company as high-profile as Adidas not only shows the direction Peloton is going with its own e-commerce plans, but is a good indicator of what large consumer athletic apparel companies are doing, in general.
According to The Motley Fool, Adidas said in its investor presentation last week that it was looking to double its e-commerce sales to between $9.5 billion and $10.7 billion.
Nothing has been released yet, but one Peloton instructor reportedly hinted at a new “Adidas x Peloton” collection. Leaked images of T-shirts, hoodies and sweatshirts are starting to show up on U.K. sites.
Peloton is teaming with Adidas in a newly announced partnership.
Details are limited, but Adidas said the brands are combing forces "to surprise & delight our highly engaged communities."
Last quarter, Peloton sold 600K units of branded apparel according to CEO John Foley. pic.twitter.com/mdbWKQDAox
— Joe Vennare (@JoeVennare) March 11, 2021
During the pandemic, when people either weren’t able to go to gyms or wanted to stay home to avoid spreading the virus, home workout equipment sales spiked. Even after the pandemic, there’s a real chance that people continue their home workout lifestyle, meaning brands like Adidas and other athletic companies will want to appeal directly to that market.
What better way than to partner with a brand synonymous with home fitness?