(Bloomberg) – Peloton Interactive Inc. announced that it will launch in Australia, enter the Asia Pacific region for the first time, and expand beyond existing markets in the US, Canada, Germany and the UK. In extended trading, the stock rose about 1%.
The fitness technology company will start selling its regular bike, the more expensive Bike + and its digital app in the second half of 2021. The company didn’t say when other products, including its treadmills, would hit the country.
The company announced it would sell its products online and open retail stores in cities like Melbourne and Sydney. Peloton has only slowly expanded its product range worldwide and has had to contend with delivery bottlenecks in the last few quarters.
Peloton didn’t say how much supply would be available in Australia, but the company is investing millions of dollars to increase production.
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