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.
