Compared to other retail storefront vacancies further west on the Robson Street strip, the vacancy of the old Foot Locker location at the northwest corner of the intersection of Robson Street and Hornby Street was very short-lived.
Peloton is in the process of renovating the space at 919 Robson Street into a new flagship showroom store location.
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The smart home gym equipment company has indicated it will open the showroom location in Spring 2021. This Robson Street flagship location is also just next door to Tesla’s showroom.
Foot Locker is relocating to a newly-completed, two-storey retail building just one block west at 1067 Robson Street, next to Sephora. It is expected to open soon.
Peloton offers two main physical products — a high-end bicycle and a high-end treadmill. Both equipment devices are Wi-Fi enabled, with a large touchscreen tablet that streams live and on-demand classes.
Late last year, the company opened its first Vancouver showroom location at 2726 Granville Street in the South Granville retail district. It also opened another location at Park Royal shopping centre in West Vancouver earlier in 2020.
Due to COVID-19, the New York City-based company, founded in 2012, has been seeing a surge in demand over the past year to the extent that it cannot keep up with equipment orders. Health orders that have shuttered fitness gyms and a general avoidance of such facilities have led to a spike in purchases for the company’s products and services.
The company’s website notes most bike delivery times are now between six and 10 weeks, and delivery times may exceed three months.
Bikes start at CAD$2,495, while treadmills start at CAD$3,295, not including monthly fees for live workout sessions.
Peloton’s stock today of USD$105.26 is more than triple its stock price of USD$29.10 on the same day in 2019.
According to the company’s latest financial statements, revenue has tripled to USD$758 million over the first fiscal quarter compared to the previous year, and it has over three million members — up from 1.4 million in June 2019.