The Amazon-branded stationary bike that appeared to spook Peloton investors actually had nothing to do with Amazon.
The e-commerce titan denied it was formally connected to the $499 Prime Bike that Echelon Fitness rolled out Tuesday claiming it developed the model “in collaboration with Amazon.”
“This bike is not an Amazon product or related to Amazon Prime,” an Amazon spokesperson said in an emailed statement. “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 heavily emphasized its purported relationship with Amazon in a press release announcing the Prime Bike, which it called “Amazon’s first-ever connected fitness product.” The release even included a statement from Echelon CEO Lou Lentine saying the companies’ partnership was “recognition of our commitment to deliver quality at a reasonable price-point.”