Agenda-setting intelligence, analysis and advice for the global fashion community.
Apparel sales for the at-home fitness company jumped to over $100 million in 2021, according to CNBC, but Peloton is now expecting its fitness apparel sales to slow.
As demand for at-home fitness has waned after increasing during the pandemic, Peloton reportedly halted the production of its stationary bikes. The company had forecasted apparel sales would hit $200 million in annual sales in 2022, but now believes the company will earn about $150 million. Peloton did not respond to BoF’s request for comment.
Peleton amassed a huge following for its bikes and treadmills, and members of its digital community have also snapped up the company’s fitness apparel. Peloton has its own private label but also makes branded collaborations with companies like Lululemon, Nike and Adidas.
The athleisure category saw significant growth during the pandemic — Lululemon already surpassed its 2023 goals and Athleta’s performance is helping drive growth at Gap Inc. But executives believe Peloton owners will ease up on their fitness apparel purchases, as they allocate spending towards going-out clothes. Analysts who are sceptical of Peloton’s staying power say the company can’t compete long-term in the activewear market.
ADVERTISEMENT
“I think a lot of people are buying Lululemon with an added Peloton stamp because they know it’s a great product,” BMO Capital Markets analyst Simeon Siegel told BoF in April. “[Peloton] has yet to show its own staying power.”
Learn more:
How Peloton Got Its Riders Hooked on Its Apparel
Peloton’s success in fitness has Nike, Lululemon and Adidas lining up to make clothes for its loyal riders. Will those followers be as loyal to the exercise bike maker’s own gear?
