Peloton has named Cédric Fletcher as its new Senior Vice President of Apparel and Accessories, a move confirmed by the company in an email.
Fletcher, who most recently served as Chief Product Officer at menswear brand True Classic for about a year, has held leadership roles at various apparel and fitness companies. These include Chief Merchandising Officer at Under Armour and Vice President of Global Merchandising for the Jordan brand at Nike, according to his LinkedIn profile.
Fletcher’s appointment comes approximately two years after Peloton ventured into the apparel market with the launch of its private label brand, Peloton Apparel, in September 2021.
Notably, Peloton settled lawsuits with Lululemon about a year after the apparel brand’s launch. Lululemon had accused Peloton of copying its apparel designs, resulting in a settlement that required Peloton to phase out specific designs without admitting wrongdoing.
In an effort to broaden its consumer base, Peloton introduced a new brand campaign in May, aiming to redefine itself as ‘more than a bike company.’
However, Peloton faced challenges in its fourth-quarter growth due to a bike seat recall. Total revenue for the quarter declined 5 per cent year-over-year to US $ 642.1 million, with a net loss improvement from US $ 1.25 billion to US $ 241.8 million. The company fell short of total gross margin expectations, achieving 31.3 per cent for the quarter.
