Costco Wholesale (COST) is selling the exercise bikes of fitness equipment maker Peloton Interactive (PTON) this holiday season.
Costco has announced that its stores and website will sell the internet-connected fitness bike of Peloton known as the “Bike+.”
The Peloton bike will be sold in 300 Costco stores at $1,999 U.S., and on Costco’s website for $2,199 U.S. between November 1, 2024 and February 15, 2025.
The companies said in a joint news release that they hope to reach younger and more affluent consumers with the Bike+.
The deal gives Costco a new product to sell during the holidays. For Peloton, placing its Bike+ with Costco comes at an opportune time of the company.
Peloton is currently being run by two board members after its former CEO Barry McCarthy resigned earlier this year.
While Peloton thrived during the pandemic, the company is now struggling with slowing sales and has turned its focus to achieving profitability.
So far this year, Costco stock has risen 37% to trade at $893.49 U.S. per share. Peloton stock has declined 3% year-to-date and trades at $5.65 U.S. a share.
