1. Decathlon in Talks to Acquire Spanish Sports Goods E-commerce Tradeinn
Last week, Decathlon established a new independent division called Decathlon Pulse. The aim is to create new business models by investing in highly innovative companies that can change the sports ecosystem. Decathlon is currently in acquisition talks with Catalonia-based sports goods e-commerce company Tradeinn. Decathlon has made an offer to acquire a controlling stake in Tradeinn, valuing the company at 1 billion euros. Tradeinn is controlled by David Martín and Dídac Lee's Didavid Management company, which holds 70% of the shares, while Suma Capital holds the remaining 30%. The transaction is expected to be completed by late July or early August. Tradeinn, founded in 2008 and headquartered in Celrà, Girona, expects its 2023 revenue to reach 500 million euros, with 2024 sales projected at 600 million euros.
2. ServiceSport UK Awarded Ministry of Justice Contract for Prison Gym Equipment Maintenance
ServiceSport UK has announced it has been awarded a contract by the UK Ministry of Justice to inspect, service, and maintain gym equipment across 106 public prisons in England and Wales. This landmark contract emphasizes ServiceSport UK's commitment to excellence and its capability to ensure the safety and functionality of gym equipment in critical public institutions. Over the past 25 years, ServiceSport UK has built a reputation for quality, reliability, and professionalism in gym equipment repair and maintenance. The contract includes annual inspections of physical training equipment and necessary repairs and maintenance across the public prison network.
3. UK Gym Selects Freemotion Fitness for $10M Renovation Project
Kingsmead Pools & Fitness will open this autumn with a full suite of Freemotion equipment and iFIT connected fitness content. Fusion Lifestyle has partnered with Freemotion Fitness, investing 8 million pounds (approximately $10.3 million) to renovate and redefine the leisure landscape in Canterbury. The upgraded gym will feature the latest cardio equipment and Genesis DS strength training machines. Members can use iFIT technology to work out with over 250 trainers or choose from more than 18,000 iFIT workouts.
4. Freeaim Launches Electric "Treadmill Shoes" to Boost VR Gaming
Freeaim has launched a VR shoe that functions like electric roller skates, usable on a 2x2 meter hard floor. When the wearer steps forward, the omnidirectional wheel module on the other shoe moves the leg backward, preventing forward movement. If the user approaches the edge of the walking area, the shoes gently return them to the center. The shoes are compatible with any SteamVR-supported headset and most PC-based VR games. The developer version is now available to enterprise customers for $4,999, with a retail version expected next year at around $1,000.
5. Planet Fitness Enters European Market, Competes with Local Brands
Planet Fitness has announced the opening of its first gym in Spain, located at the Via Sabadell shopping center in Barcelona. CEO Colleen Keating highlighted the opportunity in Spain's fitness market, which has only a 10% penetration rate. The new gym's monthly membership fee is 15 euros, while local competitor Evofit has launched a 4.90 euros/month package for the first 100 members to counter the competition. Evofit's general manager, Luís Pernas, stated that this price is valid for one year and aims to capture the low-cost market.
6. NRG Becomes Exclusive Distributor of Inspire Fitness and Centr in Europe
NRG Fitness has partnered with Centr to become the exclusive distributor of Inspire Fitness and Centr in Europe. Centr, founded by actor Chris Hemsworth, is a revolutionary fitness brand, while Inspire Fitness is known for its high-quality multi-gyms and functional trainers. NRG Fitness director Danny Koene stated that the partnership aligns with the company's focus on unique, high-quality products for both home and commercial use. Centr's offerings will include innovative home fitness equipment and commercial strength machines, complemented by Centr's digital coaching services.
By Roger Yao (cs01@fitqs.com) from Shanghai, China
Stay tuned for more updates and insights from the fitness equipment industry in next week's report.
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