With many gyms still closed, at-home fitness is more in-demand, and that’s made the exercise bike and treadmill manufacturer one of the few companies to prosper during the pandemic
Back in early March, I got a Peloton bike. I was going to do a story on the fitness company, so they gave me a loaner to try out.
Then came the pandemic, and I was stuck at home – but I still had a job to do.
It wasn’t easy. « I’m out of breath, and I’ve only been at this for a minute and 10 seconds! »
You may have heard of Peloton when its holiday ad last year was criticized as « sexist and dystopian, » and widely mocked.
But now with gyms still closed in many places, at-home fitness is more in-demand. And that’s made Peloton one of the few companies to prosper in this economy. Compared to last year, sales are up 66%.
« The tailwind of COVID is undeniable, » said Peloton’s founder and CEO John Foley. « But it is a little bit awkward that we are profiting from this situation. »
Foley started the company in 2012 with small investors and a Kickstarter campaign.
« It usually takes us seven days to deliver a bike. Now, it’s taking us seven weeks to deliver, » he said. «
Giles asked, « Do your deliver guys, and women, do they get paid sick leave? »
« We absolutely have generous sick leave. We also have what’s called ‘hazard pay.’ We heard some other delivery companies that were giving them $2 an hour more or something for hazard pay.
