Dec 26 (Reuters) – Peloton Interactive Inc (PTON.O) is providing refurbished bikes throughout the continental U.S. and Canada at a reduction of as much as $500 over new bikes, the corporate mentioned on Monday.
This system, known as Peloton Licensed Refurbished, will present fashions priced at $1,145 and $1,995 with the identical 12 month guarantee supplied with new bikes.
The health tools maker was all the fad amongst health fans throughout COVID-19 lockdowns, with the corporate hitting a peak market valuation of almost $50 billion in early 2021.
Nonetheless with individuals returning to gyms the corporate noticed demand for its health tools dwindle and noticed its market cap hunch to $3.02 billion presently.
The corporate earlier this 12 months expanded its rental program within the U.S., giving customers a month-to-month possibility on its Peloton Bike and Bike+ fashions.
Reporting by Gokul Pisharody in Bengaluru; Modifying by Chizu Nomiyama
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