Nordictrack Ultra 1 treadmill
NordicTrack is raising the bar in the home fitness equipment market. It is introducing the NordicTrack Ultra 1 treadmill, the first in a planned line of fitness gear that blends the performance expected from high-end exercise equipment with a design inspired by luxury furniture, making it fit for the most elegantly furnished home and office.
It’ll set you back $15,000, but then, it’s the Ferrari or Lamborghini-class treadmill in an industry dominated by virtual $2,000 Chevy or Ford models everyone else is running on.
After pioneering in the home fitness industry 50 years ago and outlasting every other brand in the business, NordicTrack continues its category-defining mission. The Ultra 1 is so revolutionary that it was launched at the Art Basel Miami Beach show in December, followed by its European introduction at the Paris Maison&Objet home decor and interiors fair.
“NordicTrack created Ultra 1 to celebrate its 50th anniversary and to fill a void in the high-end market. It’s the perfect combination of form and function,” shared Kevin Duffy, CEO of iFIT, NordicTrack’s parent company, along with the popularly priced Pro-Form product line and Freemotion serving the commercial market.
Unlike other NordicTrack and other iFIT products that are widely distributed internationally and domestically through Dicks Sporting Goods, Best Buy, Amazon, Costco, Fitshop and others, the Ultra 1 will only be available directly from iFit. It is taking pre-orders now in advance of shipment starting in May.
Staying Ahead Of The Competition
There is something to be said for a brand that has outlasted the competition in a home fitness market that has had its share of ups and downs over the years, most recently downs.
In the early days of the home fitness industry, it was all about the hardware with NordicTrack’s skier machine one of the first that was followed by treadmills and cross trainers.
Then the industry was bolstered by the digital revolution combining the equipment hardware with digital content and virtual interactive training software. It came just in time for the pandemic lockdowns that kept people out of the gym.
The Sports and Fitness Industry Association reports that in 2021 the home fitness industry posted a remarkable 16% growth rate that year as the rate of at-home workouts rose from 24% in 2019 to 36% in 2021. The trend has continued to increase as at-home convenience won out, and digital engagement substituted for personal training.
However, after people equipped their home gyms, the industry quickly settled back to its more or less usual 4% growth rate, going from $11.2 billion in 2022 to $11.6 billion in 2023, while the players geared up for continued heady growth.
BowFlex, formerly known as Nautilus and also owner of Schwinn, filed for bankruptcy in early 2024 and was acquired by Johnson Health Tech for $37.5 million in April last year.
In 2020, Lululemon made a major $500 million investment in Mirror fitness device and digital app but couldn’t make it work. Lululemon shut if down in 2023 and went with Peloton as its interactive fitness partner.
And Peloton has had a rough ride too, dropping nearly 4% to $2.7 billion in revenues in 2024 and down 6% through the first six months of fiscal year 2025.
L Catterton Makes A Big Bet
While iFIT is private and doesn’t reveal financial results, it is backed by L Catterton, which invested $355 million in 2022. At the time of the investment, managing partner Marc Magliacano said the company’s brands and iFIT integrated content platform transcends “venues, channels, product categories and geographies,” making it positioned “to win on a global scale.” Magliacano is now a member of the iFIT board.
Kevin Duffy joined iFIT shortly thereafter, taking over from long-time CEO Scott Watterson who remains on the board. Duffy previously was CEO of Sound United, a consumer technology company offering premium audio and home entertainment brands.
His team includes chief operating officer Matt Bush, who previously was with the Samsung Harman brand, chief product officer Keith Hartsfield, formerly with iRobot, and chief subscription officer Jeremy McCarty tasked with growing the iFIT subscriber base. He honed his subscription bona fides in the wireless, telecom, and smart home industries.
Besides having a content library of over 10k fitness and wellness courses, iFIT has also introduced an AI Coach to provide more personalized workouts suited to an individual’s fitness level and goals. Plus the iFIT app supports users without the company’s hardware. And through AI, it’s translated its full content library into ten different languages.
Playing To Win
The new NordicTrack Ultra 1 fills a void in the home fitness market that iFIT aims to dominate. “The fitness industry is filled with a lot of functional products,” Duffy explained. “But there aren’t any products that you want to take out out of the third bedroom or garage. That was the inspiration for the Ultra 1: to be both aesthetically beautiful and super functional.”
It’s crafted in wood and comes equipped with speakers and full body fans to keep users comfortable while navigating the virtual terrain during workouts. For example, you can virtually experience a Mt. Everest base camp run that automatically adjusts to the inclines and declines on the trail while enjoying the scenery.
“The controllers have been completely redesigned,” he continued. “They look like the throttle on a F15 airplane.” And it comes with a commercial-quality gym deck that provides significantly less impact on the knees. It even invites you to workout with a sensor that slowly begins to glow as you approach the machine.
I asked if an Ultra 1 customer could trade in their old equipment to knock a bit off the $15,000 price tag, but if it catches the right buyer’s eye, they probably don’t need it. However, they will get full white glove delivery service and their old treadmill can be taken away for recycling if desired.
“Our rebuying rate is relatively high,” Duffy explained, saying that about 15% of new purchases come from its existing client base, who want an upgrade to new equipment, “much like when Apple comes out with a new iPhone.”
Or the customer purchases a “complimentary modality,” like the new Tour de France indoor bike, the first and only officially licensed stationery bike that allows users to virtually ride alongside some of the world’s leading cyclists while enjoying the tour’s French country landscapes.
Staying Out Front
After NordicTrack’s 50 years as an industry leader and with iFIT behind it, the company keeps earning kudos. It was just named as one of the most innovative fitness and wellness companies of 2025 by Athletech News.
And it continues to innovate by crossing over into the gaming industry in partnership with Ergatta to make cardio workouts on rowers, treadmills and bikes “feel more like playing than exercising.”
Looking to the future, Duffy sees AI as being the ultimate game changer as people take control of their health and wellness journey. “The connected fitness, health and wellness industry is probably the best market to be in over the next ten years. Just look at the Consumer Electronics Show where so many self-monitoring health devices were featured. That gives people the information needed to be proactive about health rather than reactive as in the past.
“And within the health and wellness ecosystem with a lot of verticals, such as nutrition and sleep, fitness is the most crucial. Being ahead in AI for fitness is one of our unique advantages,” he concluded.
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