Peloton has introduced the latest addition to their portfolio of fitness equipment.
Peloton Row — the company's first ergometer — will add a low-impact, high-intensity cardio workout to Peloton's lineup.
Peloton Row will cost $3,195 and is available to preorder now. Peloton anticipates deliveries will begin in December.
The ergometer joins the company's other at-home equipment offerings: Peloton Bike, Peloton Bike+ and Peloton Tread. Like its other offerings, Peloton Row will come with personalized content for members and feature new instructors and classes such as Instructed Row and Row Bootcamp, targeted for both beginners and more advanced rowers.
"We've continuously challenged ourselves to create new, differentiated products and experiences for our Members and Peloton Row is the latest example," said Tom Cortese, Peloton's Co-Founder and Chief Product Officer in the press release. "I'm proud of the work we've done to enter the rowing category. Peloton Row will introduce more people to this incredibly efficient and effective discipline and keep them motivated no matter where they are on their fitness journey."
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The fitness company has seen its fair share of ups and downs in the last year. In January, Peloton announced it would temporarily pause production on its bikes and treadmills due to a "significant reduction" in demand.
The co-founder, John Foley, stepped down from his position as CEO in February, with former Spotify and Netflix CFO Barry McCarthy assuming the role. The major leadership change came on the heels of a massive layoff. 2,800 employees were let go — decreasing Peloton's workforce by 20%.
In the last quarter of 2021, the company had lost $439 million, and its share price had dropped by over 80% over the course of the year.
In July, Peloton announced that Taiwanese manufacturer Rexon Industrial Corp. would assume the primary manufacturing role for its bikes and treadmill products, marking the end of Peloton's own production of its machines. McCarthy called the decision to stop manufacturing its own products "another significant step in simplifying our supply chain and variablizing our cost structure," referring to it as "a key priority" for the company in a statement. The statement called it a "natural progression" in the company's evolving strategy.