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Summary
- The stock price of Peloton Interactive is enjoying the perks of its plans to expand into Australia.
- The home-based fitness equipment maker is a well-known brand in the US, UK, Germany, and Canada.
- Australia will mark the entry of the company into the Asia-Pacific region.
American company Peloton Interactive, Inc. (NASDAQ:PTON) is all set to enter Australia. The leading interactive fitness platform maintains a strong global presence with retail showrooms in the US, UK, Canadian, and German markets.
With its Australian debut, the company is entering the Asia-Pacific region.
Image source: © Arne9001 | Megapixl.com
Australia is known for its inclination towards sports, fitness, and good health. This opportunity highlights an obvious choice for the home-based fitness equipment maker to launch its brand in Australia before expanding into other Asia-Pacific markets.
Ever since the news has surfaced, the stock price is trading higher. On 09 March 2021, PTON settled the day's trade at USD 116.02, up by 14.47%.
The Expansion Plan
The company's official launch in the country is scheduled for the latter half of 2021. With Peloton entering Australia, Aussies will now be able to purchase its equipment, including Peloton Bike and the Peloton Bike+, in physical stores across the country and through online medium.
Image source: © Champlifezy | Megapixl.com
The customers will also get access to Peloton App, delivering extensive workout content that runs across +10 fitness disciplines, including outdoor and indoor running, strength, cardio, indoor cycling, yoga and more.
The international growth is driven by the passionate and growing community of more than 4.4 million members who chose the company's product for the fitness solution at anytime and anywhere, according to Peloton Managing Director for International, Kevin Cornils.
Peloton is set to announce further updates in the coming months about how Aussies can get the global fitness phenomenon experience, he added.
Reportedly, the company has been slow to expand its products internationally and is dealing with supply limitation in recent quarters. There is no information on how much supply will be available in Australia. However, Peloton is investing millions of dollars in boosting production.
Image Source: © jwpnw | Megapixl.com
As per reports, the Peloton Bike and Bike+ are likely to be priced at $2,895 and $3,695, respectively. All-Access membership enabling members to access content using Peloton's equipment is expected to cost $59 per month. Moreover, the App with an expansive content library that requires no equipment will be included in the All-Access Membership.
About Peloton, the Leading Interactive Fitness Platform
The company pioneered the technology-enabled, connected fitness solution. It makes fitness effective, entertaining, convenient, and approachable.
Peloton has, in a sense, re-invented the fitness industry. It offers a subscription platform that combines proprietary software with the best equipment and world-class streaming fitness and wellness content.
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