Having looked like it was riding into battle with Peloton yesterday with a US$500 ‘Prime Bike’, Amazon quickly pulled the product, produced by Echelon Fitness.
“This bike is not an Amazon product or related to Amazon Prime,” an Amazon spokesperson said. “Echelon does not have a formal partnership with Amazon. We are working with Echelon to clarify this in its communications, stop the sale of the product, and change the product branding.”
An original press release from Echelon was marked as no longer available, and the original product listing was removed from the Amazon website. Media reports indicated that the product name had been shortened to the Echelon Ex-P. However, searches on Amazon for ‘Prime Bike’, ‘Echelon Ex-Prime’ and ‘Echelon Ex-P’ yielded no results.
The original release from Echelon had Lou Lentine, company CEO, state, “The Prime Bike was developed in collaboration with Amazon, aiming to create an amazing, connected bike for less than US$500.”
A flurry of media activity yesterday around the new product launch focused on the US$500 price point of the Prime Bike being significantly less than the Peloton bike’s price point. The original Peloton Bike is priced from US$1,895 or US$49/month for 39 months at 0% APR.
Shares of Peloton initially fell around 7% yesterday. However, the stock recovered to be down less than 1% at the market close in New York.
The Echelon Connect Bike is currently available for sale at WalMart.com. Priced at US$500, the bike… ‘seamlessly combines fitness and tech to offer the best in stationary biking at a fraction of the cost.’ Paired with the Echelon Fit App, the company adds that Echelon Connect allows you to go at your own pace on your own time.
www.amazon.com
www.echelonfit.com
www.onepeloton.com/bikes
