Peloton Grows Plano Campus By More Than 100,000 Square Feet

Rhea-AI Summary

Peloton (NASDAQ:PTON) is expanding its Plano Campus by 103,750 square feet, allowing for the addition of approximately 1,600 jobs in various corporate roles. This move aligns with Peloton's growth strategy and highlights the company's commitment to the North Texas region, fueled by its favorable business environment. The expanded campus will offer office space, a corporate training hub, and a fitness center for employees. The opening is expected in summer 2021, quadrupling the campus's size to 131,268 square feet. Peloton's growth emphasizes its innovative approach to fitness technology.

Positive

• Expansion of the Plano Campus by 103,750 square feet, increasing total space to 131,268 square feet.
• Creation of approximately 1,600 new jobs in various corporate functions.
• Continued investment in the North Texas region.
• Development of a corporate training hub and employee fitness center.

Negative

• None.

PLANO, Texas, Dec. 9, 2020 /PRNewswire/ -- Peloton (NASDAQ:PTON), the leading interactive fitness platform, today announced it is adding 103,750 square feet of space to its Peloton Plano Campus. The additional space allows the company to significantly expand its current business presence and supports Peloton's plans to bring up to 1,600 more jobs in a variety of corporate functions and experience levels to the North Texas location.

"One of the main reasons we chose to open our Plano Campus in 2018 was the centralized location and deep pool of customer support and technology expertise in the region," said Mariana Garavaglia, Peloton's Chief Business Operations Officer. "Peloton has grown tremendously in the last two years, and we're thrilled this larger footprint will allow us to bring key leadership and managerial roles, along with additional entry level positions to the area."

Peloton continues to invest in the region and anticipates growing the workforce for a number of years. The company plans to hire employees across a variety of teams to be housed in the new space, including People, sales, field operations, and corporate functions, such as finance and enterprise technology.

"Thanks to Texas' business-friendly climate, cutting-edge companies like Peloton are choosing to expand their footprint in the Lone Star State," said Governor Greg Abbott. "Our successful model of low taxes, workforce investment, and reasonable regulations make Texas the premier economic destination for innovative companies to grow and flourish. I am grateful to Peloton for expanding their presence in Plano and bringing 1,600 new jobs to the community. Together, we will create an even more prosperous future for the state of Texas."

"The City of Plano is ready for the ride with Peloton. Their commitment to expand up to about 1,600 new team members in Plano solidifies the collaboration and partnership we enjoy with this growing company. Their innovation and our excellence is a perfect fit," said Plano Mayor Harry LaRosiliere.

The original Peloton Plano Campus will remain in its current location, with the additional square footage located in an adjacent one-story building. Subject to state and local requirements and approvals, the newly expanded offices are scheduled to open in the summer of 2021, and will quadruple Peloton's total square footage at Legacy Central to 131,268 square feet. In addition to office space, the Plano Campus will serve as a Peloton corporate training hub and include a fully-equipped employee fitness center with Peloton Bikes and Treads.

Peloton worked with CBRE Labor Analytics to explore expansion options in Plano and is working with architectural firm Corgan to design the addition. With the development, Peloton continues to grow its presence in Texas, which includes six showrooms, with one at Legacy West in Plano and a newly-designed Peloton retail experience at NorthPark Center in Dallas, and a Field Operations site in Grand Prairie.

About Peloton

Peloton is the leading interactive fitness platform, with a loyal community of more than 3.6 million Members. The company pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes for its Members anytime, anywhere. Peloton makes fitness entertaining, approachable, effective, and convenient, while fostering social connections that encourage its Members to be the best versions of themselves. An innovator at the nexus of fitness, technology, and media, Peloton has reinvented the fitness industry by developing a first-of-its-kind subscription platform that seamlessly combines the best equipment, proprietary networked software, and world-class streaming digital fitness and wellness content, creating a product that its Members love. The brand's immersive content is accessible through the Peloton Bike, Bike+,Tread, Tread+ and Peloton App, which allows access to a full slate of fitness classes across disciplines, on any iOS or Android device, Apple TV, Fire TV, Roku TVs, and Chromecast and Android TV. Founded in 2012 and headquartered in New York City, Peloton has a growing number of retail showrooms across the US, UK, Canada and Germany. For more information, visit www.onepeloton.com.

 

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SOURCE Peloton

FAQ

What is Peloton's plan for its Plano Campus in 2021?

Peloton plans to expand its Plano Campus by 103,750 square feet, adding approximately 1,600 new jobs.

How many jobs is Peloton adding in Texas?

Peloton is adding up to 1,600 new jobs to its Plano Campus.

When will the expanded Peloton Plano Campus open?

The expanded Plano Campus is scheduled to open in the summer of 2021.

What will the new space at the Peloton Plano Campus include?

The new space will include office areas, a corporate training hub, and a fitness center equipped with Peloton Bikes and Treads.