1. Costco and Peloton Team Up to Offer Bike+ for Holiday Season
Costco Wholesale (NASDAQ: COST) and Peloton Interactive (NASDAQ: PTON) have entered into a partnership to sell Peloton’s Bike+ at a discounted price for the holiday season. From November 1, 2024, to February 15, 2025, Costco will offer the high-end, internet-connected Bike+ for $1,999 at 300 of its stores, while its website lists it for $2,199. Originally priced around $2,500, this model is part of Peloton’s attempt to reach younger, affluent consumers amidst declining sales post-pandemic. As Peloton navigates leadership changes, it aims to deepen its relationship with Costco, which has seen a 35% stock increase in 2024, in contrast to Peloton’s 12% drop.
2. Etenon Fitness Expands Globally with Presence in Paris and Africa
Spain-based Etenon Fitness showcased its latest products at both the Fitex Paris and Africa Sports Expo in Casablanca this October, highlighting its commitment to international growth. Etenon’s AllFreeWeight and Plate Load product lines received high praise, with sponsorship of the “2024 France’s Strongest Man” event bolstering its French market presence. The Africa Sports Expo enabled Etenon to explore opportunities in emerging African markets. As an established supplier across Europe and North Africa, Etenon’s strategy reflects its strong positioning in global fitness equipment markets.
3. Precor to Exclusively Distribute Wellness USA in North America
Precor has signed an agreement with Wellness USA, becoming the exclusive distributor of its commercial product line across North America. This partnership brings advanced wellness products, including red light therapy pods, saunas, and recovery beds, to North American fitness centers, hotels, and spas. Precor’s global network extends Wellness USA’s reach, meeting rising demand for therapeutic products that reduce inflammation, enhance skin health, and promote well-being. CEO Dustin Grosz highlighted this partnership as a significant expansion for Precor, providing clients exclusive access to cutting-edge wellness technology.
4. US Weight Becomes Official Distributor for Adidas Fitness Accessories in the U.S.
Escalade, Incorporated (NASDAQ: ESCA) has appointed its subsidiary US Weight as the official distributor of Adidas fitness accessories in the U.S. This partnership with RFE International, the global licensee for Adidas’ home fitness products, strengthens US Weight’s market presence, adding a globally recognized brand to its portfolio. US Weight will provide Adidas’ high-quality fitness accessories through retail and online channels by January 2025, catering to the growing demand for premium fitness equipment in the U.S.
5. Centr Launches Inspire Series, Expands Global Presence
Centr, the fitness brand founded by actor Chris Hemsworth, has launched its Inspire Series, highlighted by the FT2 Pro Smith Multi-Function Trainer. Designed for compact spaces, this trainer targets home users and studios with a versatile design and safety features. Centr’s international strategy includes partnerships with U.K. distributor Wolverson Fitness and Germany’s Perform Better, pushing the brand into over 60 countries. With a strong presence in both direct-to-consumer and commercial channels, Centr is poised for continued growth, including a planned expansion into cardio equipment later this month.
6. WellnessSpace Brands Introduces HydroMassage G3
WellnessSpace Brands, formerly known as HydroMassage, has launched the HydroMassage G3, a new wellness product aimed at recovery-focused fitness facilities. With a redesigned exterior and an intuitive touchscreen interface, the G3 provides precision massage options. Partnering with Life Time fitness centers, WellnessSpace Brands is strategically expanding its footprint in the health recovery space. This shift in focus comes as fitness consumers prioritize recovery, helping facilities increase member retention and generate revenue with minimal staffing requirements.
By Roger Yao (cs01@fitqs.com) from Shanghai, China
Stay tuned for more updates and insights from the fitness equipment industry in next week's report.
Comments