“Honestly, I’m pinching myself. I feel like we have the best job and we are creating one of the great brands for our generation, ”Foley said on“Fox News Sunday. “” And we have fun. “
With a reinvented and interactive approach to training, Foley was able to take stationary cycling to the next level. Peloton’s exercise technology has succeeded in bringing studio fitness to their homes, equipping their equipment with touch screens and adding a personal touch to every workout.
During the coronavirus pandemic, demand for Peloton products exploded and revenues skyrocketed. Foley confirmed that the company saw a 130% increase in sales in the first quarter of 2021 alone.
But Foley said he wasn’t in the business for the money. With his wife Jill Foley, both avid fitness enthusiasts, the couple mulled over their billion dollar idea to provide consistent access to in-store classes.
“In New York, it was difficult to get into these classes,” he said. “We bring a community of people, millions of people, into the experience so it’s not lonely. Think Netflix though for fitness classes.
“The instructor can see how you are doing and he or she can yell at you and say, ‘CWallace123, this is your 100th class. Everyone get up and follow CWallace up the hill.
And while the concept has been proven successful, the start-up was nonetheless a tough climb for the Foleys as they thought about how to differentiate Peloton products from ordinary, often dusty training gear.
Peloton currently has over five million active members which Foley aims to grow to 100 million by welcoming more members and hiring more staff.
Foley may have faced his most viral bump on the road following the release of the Peloton holiday ad in 2019, which sparked outrage on social media. The ad featured a woman who some claimed looked distressed when she was given a Peloton bike as a gift from her husband.
“It was a frustrating time for all of us,” he responded. “We’re very passionate about what we do and it’s not just about fitness. It’s about a journey and becoming a better you.”