Peloton is discontinuing their premium univeristy co-branded bike initiative.
As a refresher, in August 2023 Peloton announced their “college strategy,” an attempt to partner with universities, colleges, and athletes. The University of Michigan was the first partnership announced.
As part of this initiative, it included a limited edition co-branded Bike+ devices with the University of Michigan colors and logo. These products retailed for $2,795 – a $300 upcharge over the standard Bike+ price of $2,495.
CEO Barry McCarthy revealed in the latest earnings call that this co-branded bike program was not as successful as Peloton had hoped. McCarthy stated:
“One initiative that hasn’t worked is our premium co-branded Bike experiment with the University of Michigan. Notwithstanding the football team’s success winning the national championship, we sold substantially fewer Bikes to alumni and boosters than we expected. What seemed like a good idea didn’t deliver. So instead of launching additional co-branded bikes in school colors, we will end-of-life this hardware initiative.”
McCarthy’s comments clearly state that The University of Michigan co-branded bike will be the first and last of its kind. Peloton will no longer pursue limited edition co-branded bikes with its collegiate partners.
However, this does not mean that Peloton will not continue its college strategy – simply that co-branded hardware will not be included moving forward.
Note that McCarthy’s comments only specifically address the co-branded collegiate bikes – not the limited edition Bike+ colors that Peloton debuted last year. In October 2023 three colors were released – candy, galaxy, and ocean – and available on the Bike+ at a $300 upcharge.
It is currently unclear whether McCarthy’s comments apply to this initiative as well as the collegiate branded bikes. There has been no mention of a possible restock of the already released colors or discussion about potential new colors in recent months, leaving the status of the program in question.
As is usually the case, Peloton’s latest earnings call revealed a lot of information, and you can catch up on any developments you may have missed via our site, including offline mode for Just Work Out, new product teases, customer service promises, and marathon-focused content.
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