John Foley, CEO of Peloton, reflects on the journey towards creating the popular fitness brand for the home.
“I honestly pinch myself. I feel like we have the best job and we’re creating one of the great brands for our generation, “said Foley on”Fox News Sunday. ”” And we’re having fun. “
With a revised and interactive training approach, Foley was able to take the stationary bike to the next level. Peloton’s movement technology has managed to bring studio fitness into the house, equip their devices with touchscreens and give every session a personal touch.
During the coronavirus pandemic, demand for Peloton products exploded and revenues soared. Foley confirmed the company saw sales jump 130% in the first quarter of 2021 alone.
But Foley said he was out of business because of the money. Along with his wife, Jill Foley – both fitness fanatics – the couple came up with an idea for a billion dollar idea to provide consistent access to boutique classes.
“It was difficult to get into these classes in New York,” he said. “We bring a community of people, millions of people, to the experience so that it is not lonely. Think Netflix, but for fitness classes. “
“The instructor can see how you’re doing and he or she can yell at you and say, ‘CWallace123, this is your 100th grade. Everyone gets up and follows CWallace up the hill. ‘”
And while the concept has proven successful, the Foleys’ entry was still an advancement as they pondered how to differentiate Peloton products from common, often dust-collecting, exercise machines.
Peloton currently has more than five million active members, which Foley plans to increase to 100 million by adding more members and hiring more employees.
Foley faced possibly his most viral bump on the street after the release of Peloton’s 2019 commercial, which sparked outrage on social media. The ad featured a woman who some argued looked desperate when she received a Peloton bike as a gift from her husband.
“It was a frustrating moment for all of us,” he responded. “We’re very passionate about what we do and it’s not just about fitness.” It’s about a journey and becoming a better you. “