The home fitness giant Peloton is reportedly looking for a large office space in Ireland so it can open a facility here. The Irish news media has reported Peloton is seeking a 70,000sq ft office for 700 workers.
It would be the company’s first investment into the Irish market. Peloton’s cycling home trainer and other kits cannot even be bought directly by people based in Ireland at the moment.
While Peloton does not currently have any offices or staff in the Republic, it offers customer support through a company called Voxpro, which is based in Mahon in Co Cork.
And now Peloton is looking to Cork to find an office for the mooted expansion of its international operation into Ireland. It is currently expanding into a number of new markets, including Australia.
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Peloton was
launched in 2012 and has already become a dominant global brand in the home
training sector. That market boomed during the Covid-19 pandemic period as most
people were confined to their homes for much of their time.
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The Irish Examiner has reported Peloton is now seeking a
70,000 sq ft base in Cork city centre and is conducting that search through
property agents CBRE.
The newspaper further reports if it finds such an office
premises in the city it could become operational before the end of this year,
though the company has declined to comment officially.
Peloton’s cycling home trainer – a specialist bike on
which customers exercise via workouts streamed online - helped to build the
company. But it also sells other home training set-ups including treadmills.
Peloton has been valued at between $20 billion and $49
billion at different times this year as its share price has fluctuated.
Its bike kit costs between $1,900 and $3,000 and
subscriptions to the company’s workout sessions cost $2,145 for 39 months or
$55 per month.
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