A dumbbell retail/storage rack that has a first section with a bottom side that is designed to sit on a flat surface, and a top side that defines one or more dumbbell-receiving structures. Each of these structures has two spaced saddles for receiving the enlarged ends of a dumbbell. The retail/storage rack also has a second section that is integrally coupled to the first section and has a bottom that is essentially perpendicular to the bottom of the first section. This arrangement creates an “L”-shaped rack that can be placed on the bottom of either the first section or the second section, to display or to hold two or more dumbbells, as desired.