Smart ring maker Oura hired its first chief marketing officer, landing Peloton’s former head of global product marketing Karina Kogan.
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A big hire for the wearables company, Kogan has been with Peloton since 2019, joining before its IPO. Before departing, she oversaw marketing of the fitness brand’s connected equipment and digital products, as well as media, life cycle, corporate wellness, and marketing analytics.
Scaling up. During the pandemic, like other device makers, Oura saw sales jump as consumers prioritized well-being. Further, as Oura CEO Harpreet Singh Rai told us on the Fitt Insider Podcast, the company’s smart ring served as an early-detection system for COVID, leading to key partnerships (like the NBA) and increased demand.
- Oura raised $100M in Series C funding earlier this year.
- The company has sold 500K rings, up from 150K pre-COVID.
- The global fitness tracker market is expected to top $92B by 2027.
Head to head. As we pointed out in our report on Oura’s potential to redefine wearables, the company’s unique form factor sets it apart. But, so far, it hasn’t seen the mainstream success of its competitors.
- Apple Watch owned one-third of the global wearables market in Q1.
- WHOOP notched a $3.6B valuation with $200M in funding this summer.
Looking ahead: Across the landscape, Fitbit has become the entry-level activity tracker while Apple prioritizes health and WHOOP looks to own performance. As Amazon and others enter the mix, Kogan and Oura will have to define where their device fits in as they continue to scale up.