Peloton Interactive To Exit All Owned-manufacturing Operations; Expanding Rexon Partnership
(RTTNews) - Interactive fitness platform Peloton Interactive, Inc. (PTON) announced Tuesday it is exiting all owned-manufacturing operations and expanding its current relationship with leading Taiwanese manufacturer Rexon Industrial Corp.
The company said the shift is a natural progression in Peloton's strategy to simplify its supply chain and focus on technology and best-in-class content to continue driving the business forward as the leading global Connected Fitness company.
Rexon will become the primary manufacturer of the hardware for Peloton's iconic Bike and Tread product lines.
Along with the expanded partnership with Rexon, Peloton will suspend operations at its Tonic Fitness Technology, Inc. facility through the remainder of 2022. The Company acquired Tonic in October 2019.
Peloton To Slash Another 500 Jobs: Reports
Canadian Dollar Falls Against Most Majors
Swiss Market Ends Modestly Higher As Stocks Rise In The Final Hour
European Markets Close Higher As Stocks Recover After Cautious Start
TSX Climbs To New Record High As Technology, Materials Stocks Rise
U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December
U.S. Existing Home Sales Rise Less Than Expected In November
