Peloton suddenly closes downtown Vancouver flagship store | Daily Hive

Peloton's downtown Vancouver flagship showroom at 919 Robson Street, permanently closed. (Daily Hive)

After kilometres of stationary journeys, the pedals have stopped turning at Peloton’s flagship showroom and store in downtown Vancouver.

This week, Peloton suddenly permanently closed its major showroom location at 919 Robson Street, which is located within the base of Quadreal Property Group’s 19-storey office tower at the northwest corner of the intersection of Hornby Street and Robson Street.

The New York City-based company first opened the Robson Street showroom in November 2020, during a period of phenomenal growth amid the pandemic lockdown, when a skyrocketing number of people turned to Peloton’s smart home gym equipment for their everyday fitness needs.

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At the Robson Street location, Peloton occupied roughly 5,000 sq ft of space.

Peloton’s sudden closure comes just weeks after Roots opened a smaller concept store in the building’s adjacent commercial unit, which was previously occupied by the Tesla showroom. This new Roots store will permanently replace the Canadian clothing and apparel retailer’s nearby longtime flagship store at the northwest corner of the intersection of Burrard Street and Robson Street.

As well, sometime soon over the coming weeks, just in time for the Christmas season, Adidas will open its 35,000 sq ft flagship store, replacing the former Victoria’s Secret flagship location at the northeast corner of the intersection of Burrard and Robson streets.

It remains to be seen what could fill Peloton’s void, which was previously the longtime location of Foot Locker. Until then, there will be another prominent commercial retail vacancy on Robson Street.

peloton robson vancouver showroom closed

Peloton’s downtown Vancouver flagship showroom at 919 Robson Street, permanently closed. (Daily Hive)

Earlier this year, amid mounting financial losses and a change in leadership, Peloton announced it would cut US$200 million in costs by closing more showrooms and reducing its labour force by about 400 staff or 15%. Currently, the number of open Peloton showrooms represents less than half the peak number from just a few years prior.

While the downtown Vancouver showroom is now closed, the Park Royal mall location in West Vancouver currently remains open.

With pandemic-time health safety restrictions now a thing of the past, the company is financially suffering from significantly reduced demand for its equipment and virtual exercise services. As well, the 2023 mass recall of 2.2 million exercise bikes in Canada and the United States due to a seat hazard has served as another major blow.

Peloton’s stock price was US$19.72 upon the onset of the pandemic on March 13, 2020, and reached a peak of US$162.72 on December 24, 2020.

Its stock price has now fallen well below pre-pandemic levels, reaching a record low of below US$3.00 in August 2024. As of today’s closing, the stock price is hovering at US$8.00.

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