Peloton Interactive Launches First-Of-Its Kind Service For Businesses

Peloton Interactive Inc PTON disclosed the launch of Peloton for Business, a first-of-its-kind B2B fitness and wellness service.

The unified portfolio of B2B wellbeing solutions is meant for enterprise clients across seven key verticals - Gyms, Hospitality, Corporate Wellness, Community Wellness, Multi-Family Residential, Education and Healthcare.

The service offering comprises many equipment and content-based solutions, including access to a Peloton Bike at no charge anywhere, preferred pricing benefits to employees, and access to enterprise-level partnerships.

Additionally, Peloton appointed Greg Hybl as Senior Vice President and General Manager of Peloton for Business to further explore the growth potential. 

This new offering is expected to streamline and boost Peloton's existing successful B2B services, which witnessed more than 7.5 million rides taken on Peloton Bikes in commercial settings globally. Also, Peloton has industry-high retention rates, with over 93% of clients renewing year over year.

Also Read: Peloton's Bold Comeback Strategy - Embracing Universal Fitness As Shares Dive 95% From All-Time Highs

Price Action: PTON shares are trading lower by 0.07% at $7.21 on the last check Thursday.