Peloton Interactive Inc. announced it is exiting all owned-manufacturing operations and expanding its current relationship with Rexon Industrial Corp. The shift is a natural progression in Peloton's strategy to simplify its supply chain and focus on technology and best-in-class content to continue driving the business forward as the leading global Connected Fitness company. Rexon will become the primary manufacturer of the hardware for Peloton's iconic Bike and Tread product lines.

Along with this expanded partnership, Peloton will be suspending operations at its Tonic Fitness Technology Inc. facility through the remainder of 2022. The Company acquired Tonic in October 2019.