Beyoncé’s resume is growing longer with a new Peloton partnership.
The buzzy at-home fitness company signed a multi-year deal with the singer and fashion designer to create a “series of themed workout experiences” for Peloton’s wide array of exercises, including cycling, running and even meditation.
It’s an important partnership for Peloton at a crucial point for its business: Peloton’s popularity and sales skyrocketed during the pandemic, but investors are concerned that a coronavirus vaccine could persuade people to return to gym memberships and ditch their at-home workouts.
Peloton’s (PTON) stock fell 21% Monday after Pfizer announced promising news about the effectiveness of its Covid-19 vaccine trial. It bounced back 2% Tuesday.
The company said Tuesday that Beyoncé is its most-requested artist from its 3.6 million members.
Beyoncé revealed that shes a Peloton member for “several years” and is excited to partner with a “company that helps people, young and old, be the best versions of themselves, in an innovative and adaptable way.”
The partnership is timed with Homecoming season, an annual celebration at historically Black colleges and universities. Students at 10 HBCUs will get a two-year membership to Peloton’s app and the company said it will “pursue long-term recruiting partnerships at both the internship and undergraduate levels.”
The partnership is “yet another example of how Peloton continues to introduce breakthrough member experiences to drive engagement, while demonstrating scale and devotion to inclusivity,” Camilla Yanushevsky, a retail analyst CFRA Research, told CNN Business.
The first Beyoncé-curated class, a 30-minute cycling class, is now live on its app. Yoga, strength and run classes will roll out this week with more in the coming months. Financial details weren’t disclosed in the release, but Beyoncé is an investor in the company.
It’s a natural extension for Beyoncé, who has a activewear line with Adidas called Ivy Park. The collaboration is a continuation of Adidas’ strategy of leveraging non-athlete influencers to work as “creative partners” for limited capsule collections of its athletic wear.
Peloton reported earnings last week and said sales of its bikes and treadmills soared 232%. It recently rolled out a high-end bike and treadmill and is bolstering production of its classes.