As global lockdowns boosted sales of its home exercise equipment, Interactive Platoon the wind was at his back. The likes of Roger Federer and Rishi Sunak were hailed as fans of their stationary bikes and online workouts and, with investors rushing to back their ambitious growth plans, the US fitness group’s market value soared to a $1 peak. 49 billion in January of last year.
But times have changed. Lockdowns have been lifted, people are out and about again, and Peloton, which was valued at just over $8 billion at its 2019 IPO, is now worth just over half that. Also, having scaled up their production thinking that sales were going in one direction, the post-pandemic demand for
