Indoor cycling giant Peloton has announced plans to enter the thriving German fitness market.
The company, which has more than 1 million people using its streaming workouts, will establish a presence in the country later this year – marking the first time Peloton will offer regular non-English language instruction.
As part of the launch, Peloton will establish a network of branded retail showrooms, where consumers can physically experience Peloton firsthand – as well as purchase the at-home Peloton Bike. The bikes will also be made available to purchase online.
Peloton plans to roll out the showrooms in several key German cities and has set the price for its bike at €2,290 (US$2,558, £2,020). The monthly content subscription has been priced at €39 (US$44, £34).
The company is now looking to add German-speaking indoor cycling instructors to its roster of talent to produce the class content for the market. The instructors will, at first, be based at Peloton’s London, UK-based studio. German subtitles will also be made available for hundreds of Peloton’s existing English-language classes.
“Germany is Europe’s largest fitness market, where more than 10 million people belong to a gym, so it was a natural next step for Peloton, as we continue to grow our brand internationally,” said Kevin Cornils, Peloton's international managing director.
Founded in 2012, Peloton offers studio-style workouts in the convenience of people's homes. The service streams up to 48 live classes a day from its New York- and London-based studios and also has a library of thousands of on-demand classes.
It recently raised US$550m financing from investors including UK's Bailie Gifford and Felix Capital and led by US giant TCV, whose interests include entertainment giant Netflix.
