Troubled fitness company Peloton is set to begin selling its Bike+ at Costco warehouses for the holiday season.
The fitness brand is offering a steep price cut on the Bike+ which typically sells for $2,495 on Peloton's website. The Bike+ is expected to be priced at $1,999 in 300 Costco stores or $2,199 Costco's website.
To sweeten the deal, customers will get a 48-month extended warranty with their purchase which is triple from Peloton's typical 12-month warranty.
The partnership will run from November 1 to February 15, according to the company.
The health and wellness company seeks to tap into Costco's 136 million members with its first seasonal retail collaboration in the U.S.
This collaboration comes as Peloton navigates a leadership transition following the exit of former CEO Barry McCarthy.
The company's sales and revenue surged in the early days of the pandemic as people turned to buying pricey home workout equipment while gyms were closed.
A series of missteps then hurt the company and caused the stock price to plummet. After peaking at more than $150 a share in 2021, the company's shares now sell below $6.
