: Adidas x Peloton apparel line launches


The Adidas x Peloton clothing line is now available, part of a broader partnership between the two fitness companies.

Designed in collaboration with Peloton Interactive Inc.

instructors Ally Love, Cody Rigsby and Robin Arzón, the collection includes gender-neutral hoodies, sweatshirts and joggers, tees and running gear.

Adidas AG

teased the partnership during its recent investor event, but offered few details.

Since then, the companies have launched on-demand classes on the Peloton app and on Peloton bikes. And exclusive content has been made available to members of Adidas’ Creators Club.

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“We believe apparel is attractive for Peloton, especially in terms of marketing and allowing consumers to show brand affinity,” wrote KeyBanc Capital Markets in a note following the initial announcement of the partnership.

“We see this partnership as slightly larger than previous collaborations, and the partnership should allow Peloton to get apparel cadence back into a better place. We think apparel/accessories are an untapped opportunity for Peloton and think that this could present an incremental gross profit dollar opportunity.”

KeyBanc rates Peloton stock overweight with a $185 price target.

Cowen rates Adidas stock as outperform with a €325 price target.

“The brand has gained significantly in the eyes of Gen Z and millennial consumers in North America but sales growth decelerated as segmentation of product was less consistent and supply chain issues arose on more difficult multi-year comparisons in North America, Western Europe and China,” analysts wrote in a note following the investor event.

“CEO Kasper Rorsted now has his moment to reset the narrative and reignite post pandemic growth.”

Adidas stock slumped 6% in Thursday trading, but has gained 24.3% over the past year. The benchmark S&P 500 index

has gained 56% for the last 12 months.

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