Amazon removed Echelon Ex-Prime bikes from its site hours after the bike company launched its new product, as Echelon claimed the bike was built in collaboration with Amazon. Amazon now claims it didn't build the bike and has told Peloton to stop selling it. Earlier, Peloton shares fell 6.7% on the announcement of the launch as it signaled Amazon's entry into the fitness market.
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- The "Peloton knock-off" was priced at $499, compared to Peleton's ~$2,000 range. The bike doesn't have an integrated screen, and fitness programs can be streamed via mobile phones or tablets.
- During the launch, the company's CEO said, "the Prime Bike was developed in collaboration with Amazon," and "Amazon looking to us to partner on their first-ever connected fitness product."
- Later, an Amazon spokesperson said, "This bike is not an Amazon product or related to Amazon Prime. 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."
- Echelon sells a similar bike at Walmart.com, though the model is currently out of stock.
This story first appeared in Inside Business. You can read the full issue here.
