Peloton Sues Peloton?
Exercise bike company Peloton is being sued by coffee brand Peloton Cold Brew, LLC for having the same trademarked name. The founders of Peloton Cold Brew believe that both companies could keep the same name, since they both operate in completely different fields of business.
Exercise equipment company Peloton is facing more legal troubles, thanks to another brand with the same name. According to TMZ, Peloton Cold Brew, LLC is suing Peloton Interactive, Inc. for using the popular brand name. The former argues they secured the trademarked Peloton name in 2017 and that the latter “didn’t get around to officially opposing it” until 2020.
Peloton Cold Brew is asking to keep its name as the company is in a completely different field of business versus Peloton Interactive, which has a stake in the fitness industry. A complaint from Peloton Interactive, filed in October of 2020, maps out its “petition for cancellation” to the United States Patent and Trademark Office. In said document, Peloton Interactive specifically claims that their marketed brand via goods and services has been active for a much longer time period than Peloton Cold Brew, founded in 2015. Peloton Interactive got its start in 2012.
“Through its extensive promotion and use, and the success of Petitioner’s offerings, Petitioner developed strong common law trademark rights and enormous goodwill in the PELOTON Mark in connection with all the above-referenced goods and services long before any date upon which Registrant can rely.” Those products include “coffee, tea, snack bars, smoothies, and juices,” along with “fitness equipment and classes, clothing, water bottles,” among others.
Within the year, Peloton has made headlines due to customer safety concerns. After a recall of its Tread and Tread Plus treadmills, those affected are currently eligible to request in-home repair appointments. Still, the corporation’s woes appear far from over. Several outlets, including Fox Business reports that Peloton Interactive’s stock plummeted Aug. 26. The fitness company released its gross profit numbers for the fourth quarter of the 2021 fiscal year, claiming a 12.1 percent year-over-year decline. Amid the news, Peloton announced plans to lower the price tag of its bike machine from $1,895 to $1,495.
