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Mar 8, 2021

Peloton to expand in Australia in second half of 2021

Notable Calls: BMO, Target and Peloton

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Peloton Interactive Inc. said it will launch in Australia, entering the Asia Pacific region for the first time and expanding beyond existing U.S., Canada, Germany and U.K. markets. The stock rose about 1 per cent in extended trading.

The fitness technology company will begin by selling its regular Bike, pricier Bike+ and digital app in the second half of 2021. The company didn’t say when other products, including its treadmills, would launch in the country.

The company said it will sell its products online and open retail stores in cities including Melbourne and Sydney. Peloton has been slow to expand its product offerings globally, and it has been dealing with supply shortages in recent quarters.

Peloton didn’t say how much supply would be available in Australia, but the company is investing millions of dollars to boost production.