Peloton announced on Friday that it has acquired pilates startup Skop, a company that makes a smart reformer machine, in a push to boost its strength and wellness offerings.
The move was explained by Peloton as a strategic acquisition and will not mean a new product launch, with some of Skop’s technology likely integrated in existing platforms. But Peloton was clear that the increased demand for Pilates was a major motivator for bringing Skop on board.
“Pilates is a category ripe for the same kind of experiential reinvention we brought to cardio,” Peloton CEO Peter Stern said. “Form is everything in Pilates, so we are taking a purposeful approach to ensure we develop the most effective, safest, and fun experiences possible—ones people will keep doing for life. Skop adds differentiated technology and specialized knowledge to our R&D team so we can continue to empower people to live fit, strong, long and happy.”
Skop was founded in 2019 and manufactures and sells a reformer machine that starts at $7,995 and also offers a subscription. The company’s device can track several metrics in real time like weight distribution across hands and feet, pace of movement, tension, range of motion and repetitions.
Peloton already offers mat pilates classes on its platform and said the content soared 48 percent last quarter over the same period last year. The Skop acquisition helps it catch up to rivals like NordicTrack that already have connected machines as the pilates reformer area increasingly continues to embrace technology-infused products.
As part of a multi-year plan to ultimately be leader in connected fitness and wellness, Peloton is already in full swing with making targeted acquisitions and building out existing product lines.
In March, the company unveiled a commercial line of treadmills and bikes that can withstand heavy use in fitness center and gyms. Despite a partnership with Precor, which it bought in 2021, Peloton did not have a dedicated commercial division but did offer its Pro Series for hotel chains like Hilton, Marriott and Hyatt.
Last October, Peloton revealed that it acquired Breathwrk, a wellness app that specializing in breathing exercises and even guided subscribers though a detailed tutorial of how to use the platform. The company said there was “strong evidence for the benefits of breathwork” as a mode of helping reduce stress and anxiety along with boosting focus, sleep and relaxation.
