Interview: CEO Helaine Knapp Talks About CityRow's Passage Through Pandemic
Portfolio Pulse from Anthony Noto
CityRow, founded by Helaine Knapp, transitioned successfully through the pandemic by focusing on at-home fitness, leveraging its CityRow Go Max Rower and app. The company, which started in 2014, capitalized on the shift to in-home fitness due to COVID-19, experiencing its best months in early 2020. Competitors like Peloton (PTON) and Lululemon (LULU) also adapted, with Peloton seeing a 232% surge in sales. CityRow plans to grow its at-home business 5-6x this year and is considering institutional capital for expansion.
November 14, 2020 | 7:27 pm
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Lululemon adapted to the pandemic by acquiring Mirror, a company known for its fitness videos, for $500 million, expanding its at-home fitness offerings.
Lululemon's acquisition of Mirror positions it to capitalize on the growing at-home fitness market, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 70
POSITIVE IMPACT
Peloton experienced a 232% surge in sales due to the pandemic, benefiting from the increased demand for at-home fitness equipment.
Peloton's significant sales increase directly correlates with the pandemic-induced shift towards at-home fitness, positioning it as a major beneficiary in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80