Dive into the Fashion World with Peloton's New Athleisure Collection
Gear up, fitness enthusiasts! Peloton is expanding its horizons with a bold new move – introducing its own athleisure line, Peloton Apparel. This is Peloton's first time venturing into the realm of designing and manufacturing its own clothing line.
Embarking on such a competitive market, brimming with established giants like Lululemon, Nike, Athleta, and newcomers like Brooks Brothers, might seem daunting. Yet, Peloton has a strategic plan up its sleeve.
Jill Foley, Vice President of Apparel at Peloton, sat down with CNN Business to discuss their game plan.
Why jump into the game now?
JF: It all began with our members' demands... Back in 2015, we started selling clothing online. Over time, our members continued to adopt non-branded clothing, modifying them with our logo. Our sales saw a significant surge, to the point where several designers and brands sought to create exclusive products for us. Even Lululemon joined the bandwagon!
However, we realized that the "small" at Peloton didn't fit the same as it did at Beyond Yoga or Terez, and the same went for other brands. Frustration among members ensued.
Moreover, we had minimal influence over quality and design... Realizing our capacity to provide members with exactly what they desired, we decided to establish our production and technical design teams. We have a wealth of data from our members – what works, what doesn't, belt issues, too much reveal, color preferences for men, etc. This data has been instrumental in shaping our new Peloton Apparel line.
What insights gained from the pandemic bolstered Peloton Apparel's development?
JF: The pandemic shed light on the importance of comfortable attire. I discovered that a well-fitted sweatshirt, with its half-zip and high neck, could be both elegant and professional for work. People will likely continue to embrace relaxed styles in the office. That's why we're planning to create beautiful blazers for men that can be paired with button-down shirts.
When people return to work, we want them to feel comfortable, yet polished and put-together.
How does Peloton plan to distinguish itself in the foggy sports and leisure apparel market?
JF: My approach is twofold:
First, we're homes in on our members. Our whopping six million members are our primary target. These pieces will particularly resonate with those who genuinely enjoy cycling, using the treadmill, or engaging with the Peloton app. Having exclusive Peloton-branded clothing is an added perk.
Furthermore, we're integrating subtle reminders of why members love their Peloton equipment onto numerous items. Our motto "Together we go far" adorns many pieces. This is our way of amping up the Peloton experience, making each day more enjoyable.
As for pricing, we're focusing on diversifying the range while making certain components more affordable. Tanks will fall between $38 and $42, with the upper price limit set at $54.
We believe in inclusivity, extending it beyond pricing. We're keen on offering a vast variety of sizes, catering to diverse body shapes and styles.
Who is Peloton Apparel designed for? What opportunities for growth do you foresee within this demographic?
JF: The pandemic has ushered in a radical shift in our demographic. Initially, we had an equal division between men and women, spanning the early 30s to early 50s.
Now, we spot opportunities for younger age groups. We've noticed students at colleges embracing Peloton clothing. New categories, like short jackets, for example, are now part of our offering.
Previously, I focused sole attention on our members. Now, we want to expand our reach beyond our equipment users... In the future, we plan to cater to larger individuals, pregnant women, and people looking to incorporate Peloton into their day-to-day lives – from home to work to social gatherings.
What's Peloton's apparel marketing strategy? How do you plan to catch the public's eye?
JF: Our instructors are our spokespeople. They've been instrumental in developing quality products, flaunting the Peloton brand with pride. They test out the clothes for us, offering feedback regularly. No incentives are provided for endorsements.
They wear the brand during classes, some even sporting other fitness brands' apparel. We don't dictate what our instructors wear but encourage them to don Peloton clothing whenever possible.
What's Peloton-Apparel's launch plan?
JF: Available online and in select stores across North America, the UK, Germany, and Australia, we'll be introducing eight new seasonal items (two per season). Plus, we'll create capsule collections that align with our brand values and content.
For instance, during Pride Month, we created collections inspired by our Fitness content, utilizing input from our content and creative teams. This approach will be repeated for Black History Month and with musicians.
We even developed a "Grateful Dead" collection, complete with classes and custom-designed attire, allowing members to indulge in a concert-like atmosphere.
How will Peloton's logo be featured on new clothing items? Will it maintain the same size as present on existing items?
JF: In response to member's requests, we will be reducing the logo size on many items, particularly core items. Initially, we tried out a smaller logo but sales didn't pick up. Our market presence is already substantial, and our high-quality pieces are the true drawcards for our members.
Note: Peloton has announced its new athleisure line's availability at Brooks Brothers' stores, broadening its reach beyond its initial platform.
Enrichment Insights:
- Peloton is targeting young male millennials, a growing demographic interested in fitness and wellness.
- By making its apparel and accessories available on platforms like Target and Nordstrom, Peloton can leverage its existing customer base while simultaneously expanding its reach to non-equipment users.
- Peloton's strong brand identity in the connected fitness space can translate into brand loyalty within the apparel market.
- By offering a comprehensive solution, including towels, resistance bands, water bottles, and cycling shoes, Peloton aims to cater to the varied needs of fitness enthusiasts.
[Sources: 1, 2]
