Pelotons testing a leasing program for its Bike

Peloton CEO Barry McCarthy hasn’t been coy about how he plans to get the struggling fitness company back on course. A few weeks ago, McCarthy both quashed sale rumors and dangled the idea of shaking up Peloton’s subscription models. Now, Peloton says it’ll pilot a new subscription model called One Peloton Club in select states starting Friday.

Under the new model, customers will pay a single $60–$100 monthly fee that covers renting the Bike and the cost of classes, according to a Wall Street Journal report. If the customer decides to cancel, Peloton will take back the bike free of charge. The pilot will be available in Texas, Florida, Minnesota, and Denver for a limited time. Customers will have to stop by a local showroom to sign up —...

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