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06 Nov 2018
Peloton gears up for UK launch – reveals locations for first set of retail stores
BY
Tom Walker
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Peloton bikes will retail at £1,895, plus £39 a month for a subscription to unlimited video classes and live streaming
US fitness brand Peloton has revealed further details of its UK expansion – including the locations of its first retail stores. The indoor cycling operator will begin fit-out work on a 20,000sq ft studio space in London’s Covent Garden in January 2019, with an opening set later in the year.
The studio will provide the location for all filming, recording and editing for Peloton’s UK content including daily scheduled rides which members can tune into via live streaming.
The move follows a UK product launch in September 2018 and the opening of a free, immersive pop-up event – which is currently live in the same location. The space allows consumers to trial the Peloton bike in a home-like environment until the end of the year.
Independent retail real estate agency Harper Dennis Hobbs worked with Peloton to secure the premium unit on Floral Street, taking over the space that previously housed the famous Sanctuary Spa.
The studio forms part of Peloton’s £50m UK and European launch, which will see its bikes go on sale in retail sites across London. Bikes are retailing at £1,895, plus £39 a month for a subscription to unlimited video classes and live streaming.
With the help of Harper Dennis Hobbs, the brand has now also acquired leases at Marylebone High Street, Kings Road, Canary Wharf and Spitalfields.
James Ebel, CEO at Harper Dennis Hobbs, said: "It’s positive for the UK retail market when a billion-dollar company sees the growth opportunities available here, particularly in a thriving area like Covent Garden.
"This further demonstrates how experiential retail is rapidly becoming key to a retailer’s success in today’s increasingly competitive marketplace.”
Peloton, which manufactures its own bikes, has built its business model on streaming live classes.
The concept behind Peloton is based on consumers buying the bike, installing it at home and then taking part in live classes streamed to a large, 22-inch HD touchscreen attached to the bike.
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