Peloton rival Echelon cycles into market with lower price tag
'We've created something very special... at a competitive price'
Echelon Fitness CEO Lou Lentine discusses its stationary bike product directly competing against Peloton.
Peloton has been cycling up some serious publicity since the release of its controversial holiday ad and tanking stock.
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With the holiday season in full swing, alternative options for stationary bikes are surfacing.
Echelon Fitness has entered the market with a product that’s in direct competition with Peloton, and it comes with a not-so-hefty price tag.
Echelon Fitness CEO Lou Lentine told FOX Business’ Stuart Varney on Wednesday that consumers can purchase an Echelon bike for around $800, compared to Peloton which retails at $2,250. The cheaper Echelon option syncs with technology such as iPads and tablets, so Lentine said Apple lovers will love it.
“We've created something that's very special,” he said. “And is at a similar level but at a competitive price.”
(Credit: Echelon)
Lentine said the big difference between Peloton and Echelon is accessibility and market strategy.
“We sell to major retailers and online as well,” he said. “So we're making something that is getting out to the masses when [Peloton] is going to the boutiques and gallery malls.”
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Echelon has about 100,000 members and experienced Black Friday numbers up five times compared to last year.
“The demand is huge for this category: Interactive, connected fitness,” he said. “People want that boutique fitness right in their home.”
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Lentine said Echelon did experience some kickback on social media after Peloton’s holiday ad summoned outrage. Its big commercial, featuring Santa Claus, makes Santa “skinny” because he rides an Echelon bike in secret.
“We got a little backlash for that,” Lentine said. “Because ‘Santa can't be skinny.’”