Now It’s Peloton T Shirts That Are On The Nose
It appears that customers no longer want to be associated with Peloton, the internet-connected bikes and treadmill manufacturer with the US Company winding back projections for sales of Peloton apparel.
The Company that last year, launched an Australian operation is facing falling sales, after problems emerged relating to the safety of their products that are being sold at David Jones.
Internal documents cited by CNBC show that the company expects apparel revenue from its apparel division to fall as consumers walk away from the brand.
The launch of Peloton apparel got off to a rocky start after Lululemon filed a lawsuit in a US court alleging that five of its women’s bra and legging products — Strappy Bra, High Neck Bra, Cadent Peak Bra, Cadent Laser Dot Bra, and Cadent Laser Dot Leggings — infringed six Lululemon design patents.
The New York-based maker of internet-connected bikes and treadmills has seen its market capitalisation plummet over the last year.
Recently the New York Post reported that Peloton was delaying the opening of a $400 million factory in the USA because the company is stuck with a glut of exercise machines and too little demand.
The company has also sought to combat negative portrayals of its products on hit shows like Showtime’s “Billions” as well as the new “Sex and the City” spinoff.
In the season premiere of “Billions,” one of the main characters, Mike “Wags” Wagner, suffers a heart attack while riding a Peloton bike.
While the “Billions” character survives, the plotline was eerily similar to a viral moment on the season premiere of HBO’s “Sex and the City” reboot “And Just Like That…,” when Carrie Bradshaw’s husband Mr. Big dies following a Peloton ride.
Earlier this month, it was reported that Peloton was considering cutting jobs and closing stores after hiring consulting firm McKinsey & Co.
Recently Peloton management retained the consulting firm McKinsey & Co. and is exploring closing 15 of its 123 showrooms with insiders tipping that the Australian business could also get wound up.